https://www.taxtmi.com/caselaws?id=384385 The High Court affirmed the ITAT's decision on the interpretation of Section 44 of the Income Tax Act for insurance business profits. It held that deductions in actuarial surplus calculations should be permitted, income from investments in Shareholders Account does not form part of insurance business profits, and Section 14 A does not apply in the context of exempt income. The Court emphasized consistency in decision-making and focused on core legal issues, allowing both parties to present arguments on framed questions. en-us Wed, 07 Aug 2019 00:00:00 +0530 Sat, 10 Aug 2019 12:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384385 The High Court affirmed the ITAT's decision on the interpretation of Section 44 of the Income Tax Act for insurance business profits. It held that deductions in actuarial surplus calculations should be permitted, income from investments in Shareholders Account does not form part of insurance business profits, and Section 14 A does not apply in the context of exempt income. The Court emphasized consistency in decision-making and focused on core legal issues, allowing both parties to present arguments on framed questions. Case-Laws Income Tax Wed, 07 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384385