Held that investments as required by Regulations of Insurance Regulatory and Development Authority in secure modes to avoid loss to insured. Assessee could carry on no business other than business of general insurance. Equity shares could not be termed Stock-In-Trade. Exemption from capital gains. As regards the depreciation matter remanded. (AY. 2011-12)
Oriental Insurance Co. Ltd. v. Dy. CIT (LTU) (2023)102 ITR 122 (Delhi)(Trib)
S. 45 : Capital gains-Long-term capital gains from equity shares-Securities transaction tax paid-Entitle for exemption-Depreciation-Matter remanded. [S.10(38), 44, Sch.I.R.5(B)]