Home Case Index All Cases Income Tax Income Tax + SC Income Tax - 1957 (4) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1957 (4) TMI 1 - SC - Income TaxWhether amounts shown by an insurance company as reserves, for unexpired risks on pending policies are liable to be deducted under rule 2 of Schedule II to the Excess Profits Tax Act (XV of 1940)? Held that:- A contingent liability in respect of unexpired risk is not an accruing liability " within rule 2 of Schedule II to the Act. Appeal dismissed.
|