Claim of Insurance on Account of Loss by Fire cannot be Disallowed: ITAT [Read Order]

By Aparna. M - On June 16, 2023 8:30 am - 2 mins read
Claim of Insurance on Account - Claim - Claim of Insurance - Account of Loss - ITAT - Taxscan

The Kolkata bench of Income Tax Appellate Tribunal (ITAT) has recently held that claim of insurance on account of loss by fire could not be disallowed. Assesee Nishant Krishna engaged in the business of manufacturing and trading of paints and primer through its two proprietorship business. Assesee filed his return on 14.10.2010. During the course…

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