https://www.taxtmi.com/caselaws?id=371196 Insurance-company taxation is assessed under the special computation scheme in section 44 and the First Schedule: the Tribunal discussed disallowance of re-insurance premium paid to non-resident reinsurers, deductibility of claims incurred but not reported, and the inapplicability of section 14A and section 115JB in the same manner as for ordinary assessees. It also noted that reassessment requires tangible new material, that profit on sale of investments became taxable in the relevant years, that UPS qualified for higher depreciation as part of the computer system, and that the claimed section 10(23G) exemption was unavailable on the facts. en-us Tue, 31 Jul 2018 00:00:00 +0530 Fri, 30 Nov 2018 07:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371196 Insurance-company taxation is assessed under the special computation scheme in section 44 and the First Schedule: the Tribunal discussed disallowance of re-insurance premium paid to non-resident reinsurers, deductibility of claims incurred but not reported, and the inapplicability of section 14A and section 115JB in the same manner as for ordinary assessees. It also noted that reassessment requires tangible new material, that profit on sale of investments became taxable in the relevant years, that UPS qualified for higher depreciation as part of the computer system, and that the claimed section 10(23G) exemption was unavailable on the facts. Case-Laws Income Tax Tue, 31 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371196