https://www.taxtmi.com/caselaws?id=24421 Compensation paid to chief and special agents under the Life Insurance Corporation Act was treated as deductible under the applicable income-tax provisions, following an earlier determination involving the same assessee. Income-tax refunds relating to erstwhile insurers were not deductible in computing taxable income under the First Schedule. Likewise, surplus statutorily payable to the Central Government for an inter-valuation period was not deductible from the surplus. Identical questions raised in a later reference are to be resolved consistently with the earlier binding determination in the assessee's own matter. en-us Mon, 12 Dec 1988 00:00:00 +0530 Tue, 19 Jan 2010 18:43:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24421 Compensation paid to chief and special agents under the Life Insurance Corporation Act was treated as deductible under the applicable income-tax provisions, following an earlier determination involving the same assessee. Income-tax refunds relating to erstwhile insurers were not deductible in computing taxable income under the First Schedule. Likewise, surplus statutorily payable to the Central Government for an inter-valuation period was not deductible from the surplus. Identical questions raised in a later reference are to be resolved consistently with the earlier binding determination in the assessee's own matter. Case-Laws Income Tax Mon, 12 Dec 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24421