Supreme Court · 1965 INSC 81 · Decided 26 March 1965
Life Insurance Corporation of India v. Crown Life Insurance CO.
- Court
- Supreme Court of India
- Citation
- 1965 INSC 81 · [1965] 3 S.C.R. 474
- Case number
- CIVIL APPEAL No. 999/1964
- Decided
- 26 March 1965
- Bench
- K.N. WANCHOO, J.R. MUDHOLKAR, S.M. SIKRI (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
Headnote
CORPORATION OF INDIA A v. CROWN CO. March 26, 1965 [K. N. WANCHOO, J. R. MuDHOLKAR AND S. M. SIKRI, JJ.J Life Insurance Corporation Act (31 of 1956), First Schedule, Pa.rt B, Para 4, cl. (d) and Insurance Act (4 of 1938), s. 10(2)-"Life insnr- B ance fund". Meaning of. Under s. 10(2) fund. Section 11 ( c) provides for keeping a revenue account in Form D of the Third Schedule, which applies to life insurance business also. This account, on the receipt side, has rnainly income C from premiums and out of investments from life fund and, on the expenditure side, all expenses and
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