Section 10 Insurance Act (IV of 1938); Section 15 (1) Insurance Company End Expenses Section Balance of Profit Under Section 15 (1), Insurance Act, 1938, collector insurance is disclosed through accounts submitted to Kulsoom Insurance. And is accepted by the Income Tax Officer is bound to accept such balance of profits but their expenses are invalid under Section 10 (2) of the Income Tax Act, 1922, Income Tax Act, 1922 The right to exclude expenses is within the meaning of R6, First Schedule and Section 10 of the Income Tax Act, 1922
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