Apollo Tyres Ltd. v. CIT

255 ITR 273Supreme Court of India2002#88 most cited

What is Apollo Tyres Ltd. v. CIT authority for?

For the purpose of computing book profits under Section 115J, arrears of depreciation, including those arising from assets working extra shifts, are a necessary charge on profits if debited to the profit and loss account and are allowable as such.

657

judgments rely on this decision, according to BharatTax’s citation analysis of 367,518 Indian tax judgments — from 2008 to 2026.

Also referred to as

Apollo Tyres Ltd v CIT · Section 115J · Section 115JB · book profits · minimum alternate tax · MAT · depreciation arrears · extra shift depreciation · debit to profit and loss account · allowable charge on profits

Also reported as

122 Taxmann 562174 CTR 521

Sections most often in play

Section 115JBSection 14ASection 143(3)Section 37(1)Section 147Section 8DSection 92CA(3)Section 195
Read the full judgment

Issues it is cited on

section 115jb(2)section 115jabook profitssection 115jsection 115jbsection 35disallowance u/s 14adisallowance under section 14asection 115section 80iasection 32section 14a

Judgments citing Apollo Tyres Ltd. v. CIT

Shalby Ltd., Ahmedabad vs. The PCIT, Ahmedabad-3, Ahmedabad

In the result, the appeal of the assessee is allowed

ITA 1227/AHD/2025[2020-21]Status: DisposedITAT Ahmedabad26 Mar 2026AY 2020-21

Bench: Ms Suchitra Kamble & Shri Narendra Prasad Sinhaassessment Years: 2020-21

Section 132Section 143(3)Section 14ASection 263Section 80G

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD BEFORE MS SUCHITRA KAMBLE, JUDICIAL MEMBER AND SHRI NARENDRA PRASAD SINHA, ACCOUNTANT MEMBER Assessment Years: 2020-21 Shalby Ltd., Principal Commissioner of Shalby Hospitals, Opp. Income Tax, Ahmedabad-3 Karnavati Club, Sarkhej Ahmedabad - 380015 Gandhinagar Highway, Ahmedabad, Vs. Gujarat - 380015 [PAN – AAICS5593B] (Appellant) (Respondent) Assessee by Shri Aseem Thakkar, AR Revenue by Shri R P Rastogi, CIT-DR Date of Hearing 23.02.2026 Date of Pronouncement 26.03.2026 O R D E R PER NARENDRA PRASAD SINHA, ACCOUNTANT MEMBER: This appeal filed by the…

ACIT Circle 3(2)(1), Mumbai vs. Sol Entertainment Private Limited, Mumbai

In the result, the appeal of the Revenue is dismissed

ITA 6017/MUM/2025[2013]Status: DisposedITAT Mumbai05 Mar 2026

Bench: Shri Saktijit Dey & Shri Makarand V Mahadeokara.Y:2013-14 Acit, Circle – 3(2)(1) Vs. Sol Entertainment Pvt Ltd Room No. 608, 6Th Floor, 903-904, 9Th Floor, Aayakar Aayakar Bhavan, Mk Bhavan, Mk Road, Road, Churchgate, Churchgate, Mumbai Mumbai – 400020. Pan/Gir No.Aapcs6369A (Applicant) (Respondent)

Section 115JSection 143(3)Section 250Section 36(1)(va)Section 4

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH MUMBAI BEFORE SHRI SAKTIJIT DEY, VICE PRESIDENT & SHRI MAKARAND V MAHADEOKAR, ACCOUNTANT MEMBER A.Y:2013-14 ACIT, Circle – 3(2)(1) Vs. Sol Entertainment Pvt Ltd Room No. 608, 6th floor, 903-904, 9th floor, Aayakar Aayakar Bhavan, MK Bhavan, MK Road, Road, Churchgate, Churchgate, Mumbai Mumbai – 400020. PAN/GIR No.AAPCS6369A (Applicant) (Respondent) Assessee by Shri Ramesh Kadam (Accountant of the company) Revenue by Shri Aniket Tewari, Sr. DR Date of Hearing 04.03.2026 Date of Pronouncement 05.03.2026 आदेश / ORDER PER MAKARAND V MAHADEOKAR, AM: This appeal by the…

DCIT Circle 2(3)(1), Mumbai vs. Tata Steel Limited, Mumbai

The appeal of the Revenue is dismissed

ITA 6471/MUM/2025[2010-11]Status: DisposedITAT Mumbai10 Feb 2026AY 2010-11

Bench: Shri Anikesh Banerjee & Shri Makarand Vasant Mahadeokardcit Circle-2(3)(1) Tata Steel Limited 552, 5Th Floor, Aayakar Bombay House, 24, Bhavan, M. K. Road, Vs. Homi Mody Street, Mumbai-400 020 Fort, Mumbai, Gpo, Mumbai-400 001 Pan/Gir No. Aaacb1247M (Applicant) (Respondent) Revenue By Shri Ritesh Misra, Ld. Dr Assessee By Ms. Jasmin Amalasadvala, Ld. Ar Date Of Hearing 27.01.2026 Date Of Pronouncement 10.02.2026

Section 115JSection 131Section 133(6)Section 147Section 148Section 153ASection 250Section 268ASection 68

…same income cannot be brought to tax twice. Further, while dealing with section 115JB, the CIT(A) deleted the additions from the computation of book profit by applying the ratio of the judgement of the Hon’ble Supreme Court in Apollo Tyres Ltd. v. CIT (2002) 255 ITR 273 (SC) Ltd., holding that the Assessing Officer could not tinker with the audited profit and loss account except as provided in the Explanation to section 115JB. 6 Tata Steel Limited 12. The present appeal, therefore, is confined to prevention of double addition; and MAT adjustment under section 115JB.Though the reassessment was triggered by Inve…

DCIT, Cir-5(1), Kolkata vs. M/S Coal India Ltd., Kolkata

ITA 1697/KOL/2019[2014-15]Status: DisposedITAT Kolkata20 Jan 2026AY 2014-15

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 115JSection 250

…ustment can be made in the computation of book-profits under section 115JB of the Act. Reliance in this regard is placed on the decision of Hon'ble Supreme Court in the case of Apollo Tyres Ltd. vs. Commissioner of Income-tax [2002] 122 Taxman 562 (SC)/[2002] 255 ITR 273 (SC)/[2002] 174 CTR 521 Page 14 ITA Nos.: 466, 622, 467, 623/KOL/2018 & 1406, 1696, 1407, 1697/KOL/2019 AYs: 2011-12 to 2014-15 M/s. Coal India Ltd. (SC)[02-05-2002]. It is further stated that Section 115JB of the Act does not warrant any such upward adjustment in respect of provision for marked-to-market loss and hence, the addition in this rega…

M/S Coal India Ltd., Kolkata vs. DCIT, Cir-5(1), Kolkata

ITA 1407/KOL/2019[2014-15]Status: DisposedITAT Kolkata20 Jan 2026AY 2014-15

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 1Section 115JSection 250

…ct of income not credited to the accounts on the basis of Form 26AS. Hence, the addition in this regard is without any basis and liable to be quashed.' Reliance in this regard can be placed on the decision of Hon'ble Supreme Court in the case of Apollo Tyres [255 ITR 273 (SC)].” 8.4 We have considered the submissions made. The expenses relate to closure of mines and shifting of mines and the Ld. AO has not disputed the working of the assessee and as per the guidelines for preparation of mine closure plan dated 27.08.2009 issued by the Government of India Ministry of Coal, all coal mine owners are required to adop…

DCIT, Circle - 5(1), Kolkata vs. M/S. Coal India Limited, Kolkata

ITA 623/KOL/2018[2012-13]Status: DisposedITAT Kolkata20 Jan 2026AY 2012-13
Section 115JSection 250

…ustment can be made in the computation of book-profits under section 115JB of the Act. Reliance in this regard is placed on the decision of Hon'ble Supreme Court in the case of Apollo Tyres Ltd. vs. Commissioner of Income-tax [2002] 122 Taxman 562 (SC)/[2002] 255 ITR 273 (SC)/[2002] 174 CTR 521 (SC)[02-05-2002]. It is further stated that Section 115JB of the Act does not warrant any such upward adjustment in respect of provision for marked-to-market loss and hence, the addition in this regard is without any basis and liable to be quashed. 4.4 We have considered the facts of the case, the submissions made and the…

DCIT, Circle - 5(1), Kolkata vs. M/S. Coal India Limited, Kolkata

ITA 622/KOL/2018[2011-12]Status: DisposedITAT Kolkata20 Jan 2026AY 2011-12

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 115JSection 250

…ustment can be made in the computation of book-profits under section 115JB of the Act. Reliance in this regard is placed on the decision of Hon'ble Supreme Court in the case of Apollo Tyres Ltd. vs. Commissioner of Income-tax [2002] 122 Taxman 562 (SC)/[2002] 255 ITR 273 (SC)/[2002] 174 CTR 521 (SC)[02-05-2002]. It is further stated that Section 115JB of the Act does not warrant any such upward adjustment in respect of provision for marked-to-market loss and hence, the addition in this regard is without any basis and liable to be quashed. 4.4 We have considered the facts of the case, the submissions made and the…

Coal India Limited, Kolkata vs. DCIT, Circle - 5(1), Kolkata

ITA 467/KOL/2018[2012-13]Status: DisposedITAT Kolkata20 Jan 2026AY 2012-13

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 115JSection 250

…ustment can be made in the computation of book-profits under section 115JB of the Act. Reliance in this regard is placed on the decision of Hon'ble Supreme Court in the case of Apollo Tyres Ltd. vs. Commissioner of Income-tax [2002] 122 Taxman 562 (SC)/[2002] 255 ITR 273 (SC)/[2002] 174 CTR 521 Page 15 ITA Nos.: 466, 622, 467, 623/KOL/2018 & 1406, 1696, 1407, 1697/KOL/2019 AYs: 2011-12 to 2014-15 M/s. Coal India Ltd. (SC)[02-05-2002]. It is further stated that Section 115JB of the Act does not warrant any such upward adjustment in respect of provision for marked-to-market loss and hence, the addition in this rega…

Veedol Corporation Limited, Kolkata vs. DCIT, Circle 4(1), Kolkata

The appeal of the assessee is partly allowed

ITA 1945/KOL/2025[2017-2018]Status: DisposedITAT Kolkata13 Jan 2026AY 2017-2018

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Dcit, Circle 4(1) Veedol Corporation Limited Aaykar Bhawan Poorva, Yule House, 8, Dr. Rajendra 8Th Floor, P-7, Chowringhee Prasad Sarani, Kolkata-700001, Vs. Square, Kolkata-700069, West Bengal West Bengal (Appellant) (Respondent) Pan No. Aabct1122C Assessee By : Shri Anup Sinha, Ar Revenue By : Shri Bonnie Debbarma, Dr Date Of Hearing: 29.10.2025 Date Of Pronouncement: 13.01.2026

For Appellant: Shri Anup Sinha, ARFor Respondent: Shri Bonnie Debbarma, DR
Section 10(34)Section 14A

…The ld. CIT (A) confirmed the order of the lower authorities AO on this issue. The case of the assessee is squarely covered by the decision of Hon'ble Apex Court in the case of Apollo Tyres Ltd. vs. Commissioner of Income-tax [2002] 122 Taxman 562 (SC)/[2002] 255 ITR 273 (SC)/[2002] 174 CTR 521 (SC)[02-05-2002], wherein the Hon'ble Apex Court had held that adjustment are not provided in section 115J of the Act cannot be made to increase book profit for the purpose of Section 115J of the Act. The case of the assessee also squarely covered by the decision of Hon'ble Apex Court in the case of Malayala Manorama Co. L…

Dalmia Cement (Bharat) Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

ITA 5417/DEL/2017[2014-15]Status: DisposedITAT Delhi31 Dec 2025AY 2014-15

Bench: Ms. Madhumita Roy & Shri Amitabh Shukla, Accountnat Member [Assessment Year: 2013-14] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue Cross Objection No.63/Chny/2018 (Arising Out Of Ita No.3157/Chny2017) [Assessment Year: 2013-14] M/S Dalmia Cement Bharat Ltd. The Assistant Commissioner Of Dalmiapuram, Income Tax, Circle-1, Tamilnadu-621651 Vs Williams Road, Cantonment, Trichy, Tamil Nadu-620001 Pan- Aadca9414C Assessee Revenue [Assessment Year: 2014-15] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue

Section 14ASection 32(1)(iia)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH, ‘F’: NEW DELHI BEFORE MS. MADHUMITA ROY, JUDICIAL MEMBER AND SHRI AMITABH SHUKLA, ACCOUNTNAT MEMBER [Assessment Year: 2013-14] The Assistant Commissioner of M/s Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 PAN-AADCA9414C Assessee Revenue Cross Objection No.63/CHNY/2018 (Arising out of ITA No.3157/CHNY2017) [Assessment Year: 2013-14] M/s Dalmia Cement Bharat Ltd. The Assistant Commissioner of Dalmiapuram, Income Tax, Circle-1, Tamilnadu-621651 Vs Williams Road, Cantonment, Tr…

Dalmia Cement (Bharat) Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

ITA 5416/DEL/2017[2013-14]Status: DisposedITAT Delhi31 Dec 2025AY 2013-14

Bench: Ms. Madhumita Roy & Shri Amitabh Shukla, Accountnat Member [Assessment Year: 2013-14] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue Cross Objection No.63/Chny/2018 (Arising Out Of Ita No.3157/Chny2017) [Assessment Year: 2013-14] M/S Dalmia Cement Bharat Ltd. The Assistant Commissioner Of Dalmiapuram, Income Tax, Circle-1, Tamilnadu-621651 Vs Williams Road, Cantonment, Trichy, Tamil Nadu-620001 Pan- Aadca9414C Assessee Revenue [Assessment Year: 2014-15] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue

Section 14ASection 32(1)(iia)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH, ‘F’: NEW DELHI BEFORE MS. MADHUMITA ROY, JUDICIAL MEMBER AND SHRI AMITABH SHUKLA, ACCOUNTNAT MEMBER [Assessment Year: 2013-14] The Assistant Commissioner of M/s Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 PAN-AADCA9414C Assessee Revenue Cross Objection No.63/CHNY/2018 (Arising out of ITA No.3157/CHNY2017) [Assessment Year: 2013-14] M/s Dalmia Cement Bharat Ltd. The Assistant Commissioner of Dalmiapuram, Income Tax, Circle-1, Tamilnadu-621651 Vs Williams Road, Cantonment, Tr…

ACIT Circle 1, Trichy vs. Dalmia Cement Bharat Ltd., Dalmiapuram

ITA 3158/CHNY/2017[2014-15]Status: DisposedITAT Chennai31 Dec 2025AY 2014-15

Bench: Ms. Madhumita Roy & Shri Amitabh Shukla, Accountnat Member [Assessment Year: 2013-14] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue Cross Objection No.63/Chny/2018 (Arising Out Of Ita No.3157/Chny2017) [Assessment Year: 2013-14] M/S Dalmia Cement Bharat Ltd. The Assistant Commissioner Of Dalmiapuram, Income Tax, Circle-1, Tamilnadu-621651 Vs Williams Road, Cantonment, Trichy, Tamil Nadu-620001 Pan- Aadca9414C Assessee Revenue [Assessment Year: 2014-15] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue

Section 14ASection 32(1)(iia)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH, ‘F’: NEW DELHI BEFORE MS. MADHUMITA ROY, JUDICIAL MEMBER AND SHRI AMITABH SHUKLA, ACCOUNTNAT MEMBER [Assessment Year: 2013-14] The Assistant Commissioner of M/s Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 PAN-AADCA9414C Assessee Revenue Cross Objection No.63/CHNY/2018 (Arising out of ITA No.3157/CHNY2017) [Assessment Year: 2013-14] M/s Dalmia Cement Bharat Ltd. The Assistant Commissioner of Dalmiapuram, Income Tax, Circle-1, Tamilnadu-621651 Vs Williams Road, Cantonment, Tr…

ACIT Circle 1, Trichy vs. Dalmia Cement Bharat Ltd., Dalmiapuram

ITA 3157/CHNY/2017[2013-14]Status: DisposedITAT Chennai31 Dec 2025AY 2013-14

Bench: Ms. Madhumita Roy & Shri Amitabh Shukla, Accountnat Member [Assessment Year: 2013-14] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue Cross Objection No.63/Chny/2018 (Arising Out Of Ita No.3157/Chny2017) [Assessment Year: 2013-14] M/S Dalmia Cement Bharat Ltd. The Assistant Commissioner Of Dalmiapuram, Income Tax, Circle-1, Tamilnadu-621651 Vs Williams Road, Cantonment, Trichy, Tamil Nadu-620001 Pan- Aadca9414C Assessee Revenue [Assessment Year: 2014-15] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue

Section 14ASection 32(1)(iia)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH, ‘F’: NEW DELHI BEFORE MS. MADHUMITA ROY, JUDICIAL MEMBER AND SHRI AMITABH SHUKLA, ACCOUNTNAT MEMBER [Assessment Year: 2013-14] The Assistant Commissioner of M/s Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 PAN-AADCA9414C Assessee Revenue Cross Objection No.63/CHNY/2018 (Arising out of ITA No.3157/CHNY2017) [Assessment Year: 2013-14] M/s Dalmia Cement Bharat Ltd. The Assistant Commissioner of Dalmiapuram, Income Tax, Circle-1, Tamilnadu-621651 Vs Williams Road, Cantonment, Tr…

Assistant Commissioner of Income Tax, Circle-1, Dibrugarh vs. Greenply Industries Limited, Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 140/GTY/2024[2013-14]Status: DisposedITAT Guwahati15 Dec 2025AY 2013-14

Bench: Shri Rajesh Kumar, Am & Shrimanomohan Das, Jm Greenply Industries Ltd Acit, Circle-1 Madgul Lounge, 5 Th Floor, 23 Aaykar Bhawan, Milan Nagar, Chetiacental Road, Kolkata- Vs. Dibrugarh-786001, Assam 700027, West Bengal (Appellant) (Respondent) Pan No. Aaacg7284R Assessee By : Shri Ashok Tulsyan, Ar Revenue By : Shri Sanjay Jha, Dr Date Of Hearing: 02.12.2025 Date Of Pronouncement: 15.12.2025

For Appellant: Shri Ashok Tulsyan, ARFor Respondent: Shri Sanjay Jha, DR
Section 115J

…te that the question as proposed also seeks addition to book profits on account of excess depreciation along with subsidy received by the respondent-assessee. It is settled position in law as held by the Apex Court in Apollo Tyres Ltd. v/s. CIT 122 Taxman 562/255 ITR 273 (SC) that the Assessing Officer while computing the book profit under Section 115J of the Act has only a power to examine whether the books of account have been maintained in accordance with the provisions of the Companies Act and have been duly audited. The book profits as reflected in the duly audited account have to be accepted by the Assessin…

ACIT, Circle - 3 3 1, Mumbai vs. Jamnagar Utilities and Power Pvt Ltd, Mumbai

In the result, both the appeals of the Revenue are allowed

ITA 5312/MUM/2024[2019-20]Status: DisposedITAT Mumbai04 Dec 2025AY 2019-20

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

For Appellant: Mr. Nimesh Vora/For Respondent: Mr. Vivek Perampurna, CIT-DR
Section 115JSection 135Section 139(1)Section 143(3)Section 144BSection 43ASection 80G

…account, such losses are not to be added back while computing book profit under section 115JB and the provision related the diminution or impairment of asset would not apply. Reliance was also placed on judicial precedents, including Apollo Tyres Ltd. v. CIT (255 ITR 273, SC), wherein it was held that the Assessing Officer cannot go behind the profit and loss account prepared in accordance with the Companies Act, except to make the specific adjustments prescribed in Explanation 1 to section 115JB. The Ld. CIT(A) after considering the CBDT instruction and other judicial precedent on the issue in dispute allowed th…

ACIT, Circle - 3 3 1, Mumbai vs. Jamnagar Utilities and Power Pvt Ltd, Mumbai

In the result, both the appeals of the Revenue are allowed

ITA 5310/MUM/2024[2020-21]Status: DisposedITAT Mumbai04 Dec 2025AY 2020-21

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

For Respondent: Mr. Nimesh Vora/
Section 115JSection 135Section 139(1)Section 143(3)Section 144BSection 43ASection 80G

…account, such losses are not to be added back while computing book profit under Section 115JB and the provision related the diminution or impairment of asset would not apply. Reliance was also placed on judicial precedents, including Apollo Tyres Ltd. v. CIT (255 ITR 273, SC), wherein it was held that the Assessing Officer cannot go behind the profit and loss account prepared in accordance with the Companies Act, except to make the specific adjustments prescribed in Explanation 1 to Section 115JB. The Ld. CIT(A) after considering the CBDT instruction and other judicial precedent on the issue in dispute allowed th…

DCIT 3.2.1, Mumbai vs. The New India Assurance Co Limited, Mumbai

Accordingly, Ground No.1 to 4 raised by the Assessee are allowed

ITA 2830/MUM/2024[2018-19]Status: DisposedITAT Mumbai21 Nov 2025AY 2018-19

Bench: SHRI VIKRAM SINGH YADAV , ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Farooq IraniFor Respondent: Shri Satya Pal Kumar&
Section 115JSection 143(3)Section 147Section 148

…unexpired risk and no adjustment is permitted to such profits other than those listed in Explanation 1 to section 115JB of the Act. Reliance in this regard is rightly placed on the decision of Hon'ble Supreme Court in the case of Apollo Tyres Ltd reported in 255 ITR 273 (SC). 12. xx xx 13. In view of the aforesaid observations and respectfully following the judicial precedents relied upon hereinabove, we direct the ld. AO to delete the addition made in respect of reserve for unexpired risk and premium deficiency while computing the book profits u/s 115JB of the Act. Accordingly, the grounds raised by the assesse…

DCIT 3.2.1, Mumbai vs. The New India Assurance Co Limited, Mumbai

Accordingly, Ground No.1 to 4 raised by the Assessee are allowed

ITA 2823/MUM/2024[2019-20]Status: DisposedITAT Mumbai21 Nov 2025AY 2019-20

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Farooq IraniFor Respondent: Shri Satya Pal Kumar&
Section 115JSection 143(3)Section 147Section 148

…unexpired risk and no adjustment is permitted to such profits other than those listed in Explanation 1 to section 115JB of the Act. Reliance in this regard is rightly placed on the decision of Hon'ble Supreme Court in the case of Apollo Tyres Ltd reported in 255 ITR 273 (SC). 12. xx xx 13. In view of the aforesaid observations and respectfully following the judicial precedents relied upon hereinabove, we direct the ld. AO to delete the addition made in respect of reserve for unexpired risk and premium deficiency while computing the book profits u/s 115JB of the Act. Accordingly, the grounds raised by the assesse…

The New India Assurance Co Ltd, Mumbai vs. Deputy Commissioner of Income Tax, Circle 3(2)(2), Mumbai

Accordingly, Ground No.1 to 4 raised by the Assessee are allowed

ITA 2622/MUM/2024[2018-19]Status: DisposedITAT Mumbai21 Nov 2025AY 2018-19

Bench: SHRI VIKRAM SINGH YADAV , ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Farooq IraniFor Respondent: Shri Satya Pal Kumar&
Section 115JSection 143(3)Section 147Section 148

…unexpired risk and no adjustment is permitted to such profits other than those listed in Explanation 1 to section 115JB of the Act. Reliance in this regard is rightly placed on the decision of Hon'ble Supreme Court in the case of Apollo Tyres Ltd reported in 255 ITR 273 (SC). 12. xx xx 13. In view of the aforesaid observations and respectfully following the judicial precedents relied upon hereinabove, we direct the ld. AO to delete the addition made in respect of reserve for unexpired risk and premium deficiency while computing the book profits u/s 115JB of the Act. Accordingly, the grounds raised by the assesse…

The New India Assurance Co. Ltd, Mumbai vs. Deputy Commissioner of Income Tax, Circle 3(2)(2), Mumbai

Accordingly, Ground No.1 to 4 raised by the Assessee are allowed

ITA 2616/MUM/2024[2012-13]Status: DisposedITAT Mumbai21 Nov 2025AY 2012-13

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Farooq IraniFor Respondent: Shri Satya Pal Kumar&
Section 115JSection 143(3)Section 147Section 148

…unexpired risk and no adjustment is permitted to such profits other than those listed in Explanation 1 to section 115JB of the Act. Reliance in this regard is rightly placed on the decision of Hon'ble Supreme Court in the case of Apollo Tyres Ltd reported in 255 ITR 273 (SC). 12. xx xx 13. In view of the aforesaid observations and respectfully following the judicial precedents relied upon hereinabove, we direct the ld. AO to delete the addition made in respect of reserve for unexpired risk and premium deficiency while computing the book profits u/s 115JB of the Act. Accordingly, the grounds raised by the assesse…