Section 10(34) Exemption w/o disallowing expenses u/s 14A for Insurance Co.

Max Life Insurance Company Ltd. Vs DCIT (ITAT Delhi)

The issue under consideration is whether assessee is liable for exemption u/s 10(34) of the Act without disallowing any expenditure under section 14A?

ITAT noted that this issue is duly covered by decision of Mumbai Bench of this Tribunal in case of ICICI Prudential Insurance Co. Ltd. (supra) in which they gave clearcut finding that assessee is entitled to exemption Please become a Premium member. If you are already a Premium member, login here to access the full content.