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2019 (8) TMI 370 - AT - Income TaxDisallowance u/s 14A - case of Insurance companies like assessee where provisions of Section 44 of the Act apply - HELD THAT:- It is the case of the assessee, where computation of income was done u/s.44 of the Act relating to “Insurance business”, the provision of section 14A cannot be invoked for making disallowance. Stating that this is covered issue, assessee submitted that the CIT(Appeal) granted relief to the assessee on this issue as per discussion given in Para 6 stating the Tribunal has decided this issue in favour of the assessee relying on the earlier order of Tribunal in assessee‟s own case for assessment year 2003-04. CIT(Appeals) granted relief to the assessee relying on the various decisions of the Tribunal as well as the Hon‟ble Delhi High Court in the case of Dy. CIT Vs. Oriental General Insurance Co. Ltd. [2004 (9) TMI 323 - ITAT DELHI-C] Allowability educational cess paid on income tax as expenses - HELD THAT:- Education Cess, which is not disallowable item, on its payment, the cess is an allowable expenditure as per provision of section 40(a)(ii) of the Act. Considering the settled nature of the issue as per the ratio laid down in the above referred case by CHAMBAL FERTILISERS AND CHEMICALS LTD., PR. COMMISSIONER OF INCOME TAX, KOTA. [2018 (10) TMI 589 - RAJASTHAN HIGH COURT]
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