Addition on account of negative reserves - The negative reserves ...

Insurance Company Argues Negative Reserves from Unpaid Premiums Shouldn't Be Taxed Due to Income Uncertainty.

May 11, 2021

Case Laws Income Tax AT

Addition on account of negative reserves - The negative reserves would be nothing but premium receivable by the insurance company. However, there would always be a chance that policyholder might not continue with the insurance polity bought by him which would result in non-receipt of premium which was otherwise receivable by the insurance company. Therefore, the same could not be taxed. - AT

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Addition on account of negative reserves - The negative reserves ...

Insurance Company Argues Negative Reserves from Unpaid Premiums Shouldn't Be Taxed Due to Income Uncertainty.

May 11, 2021

Case Laws Income Tax AT

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