https://www.taxtmi.com/caselaws?id=399584 The Tribunal dismissed the Revenue's appeal on all grounds, upholding the CIT(A)'s decisions. It was found that the issues raised had been previously settled in favor of the assessee, with no new evidence presented to alter the outcome. The Tribunal affirmed that transfers between shareholder's and policyholder's accounts are tax neutral, surplus in shareholder's account is part of insurance business income, 100% depreciation claim is allowable, negative reserve does not impact taxable surplus, and dividend income is exempt under Section 10(34). en-us Thu, 08 Oct 2020 00:00:00 +0530 Mon, 19 Oct 2020 10:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399584 The Tribunal dismissed the Revenue's appeal on all grounds, upholding the CIT(A)'s decisions. It was found that the issues raised had been previously settled in favor of the assessee, with no new evidence presented to alter the outcome. The Tribunal affirmed that transfers between shareholder's and policyholder's accounts are tax neutral, surplus in shareholder's account is part of insurance business income, 100% depreciation claim is allowable, negative reserve does not impact taxable surplus, and dividend income is exempt under Section 10(34). Case-Laws Income Tax Thu, 08 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399584