Income from pension scheme exempt u/s. 10(23AAB) of Income Tax Act

Advertisement DCIT Vs Future Generali India Life Insurance Co. Ltd (ITAT Mumbai) ITAT Mumbai held that surplus/ income from pension scheme/ business is exempt under section 10(23AAB) of the Income Tax Act. Facts- The assessee company is engaged in the business of life insurance and has obtained license of life insurance business from insurance regulatory and development authority. It has filed its income tax returns disallowing total loss of Rs.144, 50,63,150/- from the business after adjusting transfer of Rs.162,48,88,000/- from profit and loss account and revenue account. AO added an amo...