https://www.taxtmi.com/caselaws?id=766319 ITAT Mumbai upheld CIT(A)'s decision allowing insurance company's exemption claims under sections 10(38), 10(15), and 10(34) for profit on sale of shares/securities, interest on securities, and dividend on shares respectively. The tribunal noted that computation of insurance business income must follow section 44 read with First Schedule, making other income head provisions inapplicable. Decision was consistent with previous assessment years and CBDT circular dated 21.02.2006. Revenue's appeal was dismissed. en-us Mon, 10 Feb 2025 00:00:00 +0530 Sat, 22 Feb 2025 08:30:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766319 ITAT Mumbai upheld CIT(A)'s decision allowing insurance company's exemption claims under sections 10(38), 10(15), and 10(34) for profit on sale of shares/securities, interest on securities, and dividend on shares respectively. The tribunal noted that computation of insurance business income must follow section 44 read with First Schedule, making other income head provisions inapplicable. Decision was consistent with previous assessment years and CBDT circular dated 21.02.2006. Revenue's appeal was dismissed. Case-Laws Income Tax Mon, 10 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766319