{"id":43714,"date":"2024-06-14T16:32:11","date_gmt":"2024-06-14T11:02:11","guid":{"rendered":"https:\/\/itatonline.org\/digest\/oriental-insurance-co-ltd-v-dy-cit-ltu-2023102-itr-122-delhitrib-3\/"},"modified":"2024-06-14T16:32:11","modified_gmt":"2024-06-14T11:02:11","slug":"oriental-insurance-co-ltd-v-dy-cit-ltu-2023102-itr-122-delhitrib-3","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/oriental-insurance-co-ltd-v-dy-cit-ltu-2023102-itr-122-delhitrib-3\/","title":{"rendered":"Oriental Insurance Co. Ltd. v. Dy. CIT (LTU) (2023)102 ITR 122 (Delhi)(Trib)"},"content":{"rendered":"<p>Held\u00a0 that from a reading of section\u00a044\u00a0and the First Schedule to the Act, it is plain that insurance companies are required to prepare accounts in accordance with the Insurance Act and the regulations of the Insurance Regulatory and Development Authority and not in accordance with the Companies Act. Accordingly, section\u00a0115JB\u00a0would not apply to insurance companies including the assessee.(AY. 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 115JB : Company-Book profit \u2013Insurance business-Assessee Not preparing financial statements as required under Companies Act-Minimum alternate tax not applicable. [S.44, Sch. I]  <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-43714","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-bn4","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/43714","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=43714"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/43714\/revisions"}],"predecessor-version":[{"id":43715,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/43714\/revisions\/43715"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=43714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=43714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=43714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}