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2020 (12) TMI 434 - AT - Income TaxCorrect head of income - profit on sale of investments - Income from Capital Gain or income from other sources - claim of exemption u/s 10(38) on the profit on sale of investments - HELD THAT:- As decided in own case [2019 (11) TMI 1544 - ITAT MUMBAI] CIT(A) was right in law and the facts of the assessee in allowing the assessee’s claim of exemption u/s 10(38) on the profit on sale of investments. Disallowance u/s 14A r.w.r. 8D - HELD THAT:- Provisions of Sec. 14A has no applicability in the cases of General Insurance Companies, which are governed by the special provisions laid down in Sec. 44. Disallowance of amortization of premium on securities - HELD THAT:- As relying on assessee's own case [2019 (11) TMI 1544 - ITAT MUMBAI] no infirmity in the vacation of the disallowance of amortization of premium on securities. Provisions of Sec. 115JB not applicable in the case of the assessee company
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