https://www.taxtmi.com/caselaws?id=283700 Insurance-company income is computed under the specialised framework for insurance business, with the section 10 exemption issue governed by the jurisdictional High Court view. MAT under section 115JB does not apply where accounts are not prepared under the Companies Act; a voluntary mistaken tax computation cannot create liability, as there is no estoppel against law. Prior-period expenditure remained disallowed, investment write-off was not accepted as a deductible loss, and leave-encashment disallowance was maintained. Contributions to pension and gratuity funds were not allowable, requiring reconsideration by the assessing officer in line with the earlier coordinate-bench approach. en-us Fri, 20 Feb 2015 00:00:00 +0530 Mon, 07 Oct 2019 21:29:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283700 Insurance-company income is computed under the specialised framework for insurance business, with the section 10 exemption issue governed by the jurisdictional High Court view. MAT under section 115JB does not apply where accounts are not prepared under the Companies Act; a voluntary mistaken tax computation cannot create liability, as there is no estoppel against law. Prior-period expenditure remained disallowed, investment write-off was not accepted as a deductible loss, and leave-encashment disallowance was maintained. Contributions to pension and gratuity funds were not allowable, requiring reconsideration by the assessing officer in line with the earlier coordinate-bench approach. Case-Laws Income Tax Fri, 20 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283700