2025 (7) TMI 2000

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....the Assessee : Shri Madhur Agrawal, Advocate For the Revenue : Shri Paresh Deshpande, Sr. DR ORDER PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: This is a miscellaneous application moved by assessee against the Appellate Order pronounced on 30.10.2024, in ITA No. 1816/M/2023 for A.Y. 2017-18, filed by assessee. 2. This impugned miscellaneous application filed by the assessee pertains to gr....

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....nge in fact for the year under consideration and therefore for the purpose of completeness, without changing the conclusion so drawn, assessee by way of this miscellaneous application sought an insertion to clarify the conclusion so drawn. 2.1. For this purpose, the fact is that reversal of reserve for unexpired risk (UEPR) for an amount of Rs. 2,89,63,479/- in the books of accounts for the yea....

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....ubmission made by the assessee that when Rule 6E was inserted in the statute, the insurance policies were only for a period of one year and, therefore, the reversal of the provision for UEPR would always be in the immediately next year and, accordingly, the same was provided in the rules. However, with the development in the insurance business and change in regulation, now insurance policies are p....

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....11 relating to levy of interest u/s 234C, it was held that the same is consequential and therefore no separate adjudication is required. Assessee moved this miscellaneous application by submitting that interest leviable is to be computed on the returned income and not the assessed income. The issue so raised vide ground no. 11 is no longer res integra. Provisions contained in section 234C refers t....