Tribunal held that provisions of s. 115JB, which enables companies to compute book profit, is not applicable to insurance companies. (AY. 2003-04 to 2010-11)
ACIT v. United India Insurance Co. Ltd. (2018) 67 ITR 191 /195 TTJ 65 (UO) (Chennai)(Trib.)
S. 115JB : Book profit– Not applicable to insurance companies.