Disallowance u/s 14A unsustainable as there is no requirement of head-wise bifurcation for computing income u/s 44

Oriental Insurance Co Ltd Vs DCIT (ITAT Delhi)

ITAT Delhi held that as per provisions of section 44 of the Income Tax Act there is no requirement of head wise bifurcation while computing income u/s 44 in case of insurance company. Thus, provisions of section 14A are not relevant to make a disallowance.

Facts- The assessee is a public sector undertaking of Government of India and is in the business of Non-Life Insurance. The assessee offers insurance covers for large projec

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