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| The Tax Publishers2020 TaxPub(DT) 1221 (Bom-HC) INCOME TAX ACT, 1961
Section 10(34)
The substantial question of law was part of question of law urged in Pr. CIT-6 v. ICICI Prudential Life Insurance Co. Ltd. [Income Tax Appeal No.1248 of 2015 dated 3-7-2018] : 2019 TaxPub(DT) 4136 (Bom-HC) and have not been entertained. Hence, it did not arise for consideration in this Appeal
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Exemption under section 10(34) - Dividend income of assessee as exempt under section 10(34) - -
Issue arose for consideration as to whether on the facts and in the circumstances of the case and in law, the Tribunal erred in allowing the dividend income of assessee as exempt under section 10(34) ignoring the fact that dividend income is considered as part of income of Life Insurance Business and was included as an 'income' by the actuary Held: The substantial question of law was part of the question of law urged in The Pr. CIT-6 v. ICICI Prudential Life Insurance Co. Ltd. [Income Tax Appeal No.1248 of 2015 dated 3-7-2018] : 2019 TaxPub(DT) 4136 (Bom-HC) and have not been entertained. Hence, it did not arise for consideration in this Appeal
REFERRED : The Pr. CIT-6 v. ICICI Prudential Life Insurance Co. Ltd. [Income Tax Appeal No.1248 of 2015 dated 3-7-2018] : 2019 TaxPub(DT) 4136 (Bom-HC) CIT v. Life Insurance Corporation of India Ltd. [2011] 12 taxmann.com 388 (Bombay) : 2012 TaxPub(DT) 0433 (Bom-HC)
FAVOUR : In assessee's favour
A.Y. :
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