https://www.taxtmi.com/caselaws?id=304872 The article examines how the special computation regime for life insurance business under section 44 and the First Schedule affected multiple tax issues, including interim bonus, dividend income, section 14A disallowance, actuarial surplus, negative reserve and the applicability of sections 115-O and 115Q. It also discusses treatment of loss from the Jeevan Suraksha Pension Fund, shareholder-fund credits and a section 80G donation claim. The analysis reflects that settled judicial views generally favoured the insurer on dividend exemption, exclusion of section 14A disallowance, inclusion of fund losses and negative reserve adjustments, while the interim bonus issue required fresh examination and the donation claim raised a double-deduction concern. en-us Fri, 08 Apr 2022 00:00:00 +0530 Tue, 01 Nov 2022 20:49:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304872 The article examines how the special computation regime for life insurance business under section 44 and the First Schedule affected multiple tax issues, including interim bonus, dividend income, section 14A disallowance, actuarial surplus, negative reserve and the applicability of sections 115-O and 115Q. It also discusses treatment of loss from the Jeevan Suraksha Pension Fund, shareholder-fund credits and a section 80G donation claim. The analysis reflects that settled judicial views generally favoured the insurer on dividend exemption, exclusion of section 14A disallowance, inclusion of fund losses and negative reserve adjustments, while the interim bonus issue required fresh examination and the donation claim raised a double-deduction concern. Case-Laws Income Tax Fri, 08 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304872