Bonus allocated to Policyholders is not Taxable as Income from Insurance Company: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), while granting relief to Max New York Life Insurance Company Ltd, held that the addition made by the income tax department treating bonus allocated to the policyholders as taxable income under section 44 of the Income Tax Act, 1961 is liable to be quashed. The assessee, Max New York […]

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