Sec. 115JB of the Income-tax Act, 1961 - MAT - Revenue filed Tax Appeal against the order of Tribunal in holding that provisions of section 115JB are not applicable to the assessee without appreciating that the accounts of the assessee are prepared in accordance with the provisions of section 11(1) of the Insurance Act, 1938 read with the provisions of sub-section (1), (2) and (5) of section 211 and sub-section (5) of section 227 of the Companies Act, 1956. High Court disposed of the Appeal holding that ”the same issue is covered against the Revenue by a detailed Judgment dated 16th April, 2019 passed by the Division Bench of this Court in Income-tax Appeal No.1196 of 2013 and connected Appeals. It was held that provisions of section 115JB as it stood at the relevant time, would not apply to Banking Companies or Insurance Companies. The Registry is directed to communicate copy of this order to the Tribunal. This would enable the Tribunal to keep papers and the proceedings relating to the present Appeal available, to be produced when sought for by the Court“. Revenue filed SLP. Supreme Court while grating the leave ordered to tag the matter along with Civil Appeal No. 7580 of 2019. - PR. CIT V/s NEW INDIA ASSURANCE CO. LTD. - [2020] 269 TAXMAN 481 (SC)