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2015 (7) TMI 1346
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....ssanji, Advocate i/b M/s S.P. Mehta for Respondent. P.C.: In this appeal by the revenue under Section 260A of the Income Tax Act, 1961 (the 'Act') the challenges is to the order dated 14 September 2012 passed by the Income Tax Appellate Tribunal (the 'Tribunal'). The impugned order relates to the Assessment Years 2007­08. 2. Mr. Suresh Kumar, the learned Counsel for th....
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....n­amended Insurance Act 1938 and Regulations made there under? 3) Whether on the facts and in the circumstances of the case and in law, the Tribunal is correct in allowing the relief to the assessee by holding that "surplus" available both in Policy Holders Account and Share Holder's Account is to be consolidated and only "net surplus" is to be taxed as income from Insurance Busin....
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....ect in deleting the addition made on account of claim of 100% depreciation ignoring the facts that Actuarial surplus is determined on the basis of the total assets of the company and therefore by not capitalizing the above assets, the assets of the assessee company are under­stated in the books and thereby it has an impact of reducing the surplus or increase in the deficit and therefore, the a....
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....hat so far as Question No.5 is concerned, an appeal by the revenue in respect of Assessment Year 2005­06 being Income Tax Appeal No. 710/2013 was not entertained by us today. Accordingly, following our decision in Income Tax Appeal No. 710/2013 and for the reasons recorded therein, Question No.5 is not entertained. 5. So far as Question No.7 is concerned, the grievance of the revenue is tha....