Bharat Insurance Co. Ltd. vs Commissioner Of Income Tax

Authority: Privy Council Date: 1933-12-15 AY: 1929-30 Section: 4, 37 Acts: Indian Income Tax Act, 1922; Indian Life Assurance Companies Act, 1912; Indian Companies Act, 1882 Result: Revenue Citation: (1934) 2 ITR 63 (PC) Justices: Lord Macmillan, Sir John Wallis & Sir George Lowndes Appeal No: P.C. Appeal No. 67 of 1932
Whether the sum distributed among participating policy holders represents part of the profits assessable to income-tax, or an expenditure incurred for earning the profits of the Company --- Held: It is part of the profits assessable to income-tax.

šŸ”’ Direct Access Blocked

For your security and to prevent unauthorized automated access, individual judgment links cannot be opened directly. Please access this content via Google Search or the TaxPundit Search Portal.

AI Deep Dive
0/5 selected

Membership Required

Unlock official PDFs for all landmark cases.

JOIN NOW āž”
Shopping Cart