https://www.taxtmi.com/caselaws?id=25035 The High Court upheld the Tribunal's decision, ruling that the amount of Rs. 46,703 was not chargeable to tax as it did not constitute taxable profit. The Court found no reason to interfere with the Tribunal's findings, disposing of the reference in favor of the assessee without awarding costs. It was further noted that the Ruby General Insurance Company had merged with the National Insurance Company of India, and corrective actions were to be taken regarding the records. Judge Monjula Bose concurred with the judgment. en-us Thu, 07 Aug 1986 00:00:00 +0530 Mon, 25 Jan 2010 10:22:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25035 The High Court upheld the Tribunal's decision, ruling that the amount of Rs. 46,703 was not chargeable to tax as it did not constitute taxable profit. The Court found no reason to interfere with the Tribunal's findings, disposing of the reference in favor of the assessee without awarding costs. It was further noted that the Ruby General Insurance Company had merged with the National Insurance Company of India, and corrective actions were to be taken regarding the records. Judge Monjula Bose concurred with the judgment. Case-Laws Income Tax Thu, 07 Aug 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25035