https://www.taxtmi.com/caselaws?id=761863 The Appellate Tribunal rectified its order concerning the Reserve for Unexpired Risks (URR), Claims Incurred But Not Reported (IBNR), and Claims Incurred But Not Enough Reported (IBNER) under section 115JB. It acknowledged a prior error, correcting the record to remit issues back to the Assessing Officer with the Senior DR's agreement. For the assessment year 2017-18, the Tribunal corrected an amount error from Rs. 1582.58 crores to Rs. 1582.98 crores. An application for 2018-19 led to the Tribunal recalling the order to address omitted grounds in a future hearing. A 2019-20 application was withdrawn by the assessee. Ultimately, the Tribunal allowed several miscellaneous applications, partly allowed one, and dismissed another, addressing rectification of apparent mistakes. en-us Wed, 28 Aug 2024 00:00:00 +0530 Tue, 19 Nov 2024 08:40:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761863 The Appellate Tribunal rectified its order concerning the Reserve for Unexpired Risks (URR), Claims Incurred But Not Reported (IBNR), and Claims Incurred But Not Enough Reported (IBNER) under section 115JB. It acknowledged a prior error, correcting the record to remit issues back to the Assessing Officer with the Senior DR's agreement. For the assessment year 2017-18, the Tribunal corrected an amount error from Rs. 1582.58 crores to Rs. 1582.98 crores. An application for 2018-19 led to the Tribunal recalling the order to address omitted grounds in a future hearing. A 2019-20 application was withdrawn by the assessee. Ultimately, the Tribunal allowed several miscellaneous applications, partly allowed one, and dismissed another, addressing rectification of apparent mistakes. Case-Laws Income Tax Wed, 28 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761863