https://www.taxtmi.com/caselaws?id=375448 The High Court dismissed the tax case appeals, ruling in favor of the assessee and against the revenue on both substantial questions of law regarding depreciation on UPS and the applicability of Section 115JB of the Act to insurance companies for the assessment years from 2006-07 to 2009-10. The Court emphasized that the assessee's consistent position against the applicability of Section 115JB to insurance companies was valid, citing regulatory guidelines specific to insurance companies. The Court upheld previous decisions and concluded that no change in judgment was warranted, ultimately dismissing the appeals and connected CMPs without awarding costs. en-us Mon, 28 Jan 2019 00:00:00 +0530 Wed, 19 Aug 2020 14:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375448 The High Court dismissed the tax case appeals, ruling in favor of the assessee and against the revenue on both substantial questions of law regarding depreciation on UPS and the applicability of Section 115JB of the Act to insurance companies for the assessment years from 2006-07 to 2009-10. The Court emphasized that the assessee's consistent position against the applicability of Section 115JB to insurance companies was valid, citing regulatory guidelines specific to insurance companies. The Court upheld previous decisions and concluded that no change in judgment was warranted, ultimately dismissing the appeals and connected CMPs without awarding costs. Case-Laws Income Tax Mon, 28 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375448