High Pitched assessment in accordance with directions of DRP, appeal of assesse has been allowed by Tribunal. A case of continuing harassment of assesse and there seems no ease of doing business if you are in clutches of Tax authorities. https://www.taxtmi.com/article/detailed?id=8690 Insurance proceeds for loss of stock-in-trade reduce business loss for the subsidiary, while proceeds received by a holding company under a Global Insurance Policy for investment loss constitute a distinct interest and are treated according to their capital or revenue nature; distributions by the holding company do not convert the original receipt into subsidiary income nor cause accrual in India merely by sharing or correspondence. en-us Thu, 22 Aug 2019 07:10:04 +0530 Thu, 22 Aug 2019 07:10:04 +0530 TaxTMI RSS Generator High Pitched assessment in accordance with directions of DRP, appeal of assesse has been allowed by Tribunal. A case of continuing harassment of assesse and there seems no ease of doing business if you are in clutches of Tax authorities. https://www.taxtmi.com/article/detailed?id=8690 Insurance proceeds for loss of stock-in-trade reduce business loss for the subsidiary, while proceeds received by a holding company under a Global Insurance Policy for investment loss constitute a distinct interest and are treated according to their capital or revenue nature; distributions by the holding company do not convert the original receipt into subsidiary income nor cause accrual in India merely by sharing or correspondence. Articles Income Tax Thu, 22 Aug 2019 07:10:04 +0530 https://www.taxtmi.com/article/detailed?id=8690