CIT v. United India Insurance Company

111 Taxmann.com 217High Court2019#4597 most cited

What is CIT v. United India Insurance Company authority for?

Profit on sale of investments is not taxable in the hands of insurance companies. The Madras High Court has held that such gains are not taxable.

25

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2022 to 2025.

Also referred to as

CIT v. United India Insurance Company · 2019 · profit on sale of investments · insurance companies · not taxable · Madras High Court · capital gains tax

Sections most often in play

Section 143(3)Section 40(a)(ia)Section 115JBSection 147Section 148Section 195Section 37(1)Section 44
Read the full judgment

Issues it is cited on

section 33acdepreciation on softwaresection 64first proviso to section 147section 115jb(2)section 194jsection 33written down valuekelvinatorcomputer softwareintangible assetssection 40(a)(i)

Judgments citing CIT v. United India Insurance Company

DCIT, Chennai vs. Cholamandalam Ms General Insurance Company Ltd., Chennai

ITA 1366/CHNY/2013[2008-2009]Status: DisposedITAT Chennai26 Aug 2022AY 2008-2009

Bench: Shri V.Durga Rao & Shri G. Manjunatha(अपीलाथ"/Appellant) (""यथ"/Respondent) S.

For Appellant: Mr. Percy J. PardiwallaFor Respondent: Mr. M.Swaminathan, Sr.Standing
Section 195Section 3Section 40Section 5

…आयकर अपील"य अ"धकरण,‘सी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘C’ BENCH, CHENNAI "ी वी.दुगा" राव, "या"यक सद"य एवं "ी जी. मंजुनाथ, लेखा सद"य के सम" BEFORE SHRI V.DURGA RAO, JUDICIAL MEMBER AND SHRI G. MANJUNATHA, ACCOUNTANT MEMBER (अपीलाथ"/Appellant) (""यथ"/Respondent) S. ITA No. Assessment Year आयकरअपीलसं No 1 2146/Chny/2008 2005-06 M/s. Cholamandalam The Deputy MS General Insurance /Assistant Company Ltd. Commissioner of 2, Dare House, NSC Income Tax, Bose Road, Large Taxpayer Unit-2, Chennai-600 034. Chennai-600 001. PAN: AABCC 6633K -do- 2 1620/Chny/2011 2006-07 -do- -do- -do- 3 1621/Chny/2…

Cholamandalam Ms General Insurance Company Ltd., Chennai vs. DCIT, Chennai

ITA 1350/CHNY/2013[2008-09]Status: DisposedITAT Chennai26 Aug 2022AY 2008-09

Bench: Shri V.Durga Rao & Shri G. Manjunatha(अपीलाथ"/Appellant) (""यथ"/Respondent) S.

For Appellant: Mr. Percy J. PardiwallaFor Respondent: Mr. M.Swaminathan, Sr.Standing
Section 195Section 3Section 40Section 5

…आयकर अपील"य अ"धकरण,‘सी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘C’ BENCH, CHENNAI "ी वी.दुगा" राव, "या"यक सद"य एवं "ी जी. मंजुनाथ, लेखा सद"य के सम" BEFORE SHRI V.DURGA RAO, JUDICIAL MEMBER AND SHRI G. MANJUNATHA, ACCOUNTANT MEMBER (अपीलाथ"/Appellant) (""यथ"/Respondent) S. ITA No. Assessment Year आयकरअपीलसं No 1 2146/Chny/2008 2005-06 M/s. Cholamandalam The Deputy MS General Insurance /Assistant Company Ltd. Commissioner of 2, Dare House, NSC Income Tax, Bose Road, Large Taxpayer Unit-2, Chennai-600 034. Chennai-600 001. PAN: AABCC 6633K -do- 2 1620/Chny/2011 2006-07 -do- -do- -do- 3 1621/Chny/2…

DCIT, Chennai vs. M/S. Cholamandalam Ms General Insurance Co. Ltd., Chennai

ITA 1759/CHNY/2011[2006-07]Status: DisposedITAT Chennai26 Aug 2022AY 2006-07

Bench: Shri V.Durga Rao & Shri G. Manjunatha(अपीलाथ"/Appellant) (""यथ"/Respondent) S.

For Appellant: Mr. Percy J. PardiwallaFor Respondent: Mr. M.Swaminathan, Sr.Standing
Section 195Section 3Section 40Section 5

…आयकर अपील"य अ"धकरण,‘सी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘C’ BENCH, CHENNAI "ी वी.दुगा" राव, "या"यक सद"य एवं "ी जी. मंजुनाथ, लेखा सद"य के सम" BEFORE SHRI V.DURGA RAO, JUDICIAL MEMBER AND SHRI G. MANJUNATHA, ACCOUNTANT MEMBER (अपीलाथ"/Appellant) (""यथ"/Respondent) S. ITA No. Assessment Year आयकरअपीलसं No 1 2146/Chny/2008 2005-06 M/s. Cholamandalam The Deputy MS General Insurance /Assistant Company Ltd. Commissioner of 2, Dare House, NSC Income Tax, Bose Road, Large Taxpayer Unit-2, Chennai-600 034. Chennai-600 001. PAN: AABCC 6633K -do- 2 1620/Chny/2011 2006-07 -do- -do- -do- 3 1621/Chny/2…

DCIT, Chennai vs. M/S. Cholamandalam Ms General Insurance Co. Ltd., Chennai

ITA 1676/CHNY/2011[2007-08]Status: DisposedITAT Chennai26 Aug 2022AY 2007-08

Bench: Shri V.Durga Rao & Shri G. Manjunatha(अपीलाथ"/Appellant) (""यथ"/Respondent) S.

For Appellant: Mr. Percy J. PardiwallaFor Respondent: Mr. M.Swaminathan, Sr.Standing
Section 195Section 3Section 40Section 5

…आयकर अपील"य अ"धकरण,‘सी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘C’ BENCH, CHENNAI "ी वी.दुगा" राव, "या"यक सद"य एवं "ी जी. मंजुनाथ, लेखा सद"य के सम" BEFORE SHRI V.DURGA RAO, JUDICIAL MEMBER AND SHRI G. MANJUNATHA, ACCOUNTANT MEMBER (अपीलाथ"/Appellant) (""यथ"/Respondent) S. ITA No. Assessment Year आयकरअपीलसं No 1 2146/Chny/2008 2005-06 M/s. Cholamandalam The Deputy MS General Insurance /Assistant Company Ltd. Commissioner of 2, Dare House, NSC Income Tax, Bose Road, Large Taxpayer Unit-2, Chennai-600 034. Chennai-600 001. PAN: AABCC 6633K -do- 2 1620/Chny/2011 2006-07 -do- -do- -do- 3 1621/Chny/2…

Axa France Vie, Delhi vs. ACIT, Circle Int. Taxation 1(1)(1), Delhi

In the result, the appeal of the assessee stands allowed

ITA 439/DEL/2022[2018-19]Status: DisposedITAT Delhi13 May 2022AY 2018-19

Bench: Shri Shamim Yahya & Shri N. K. Choudhry[Assessment Year: 2018-19]

Section 144CSection 144C(5)Section 194DSection 201(1)Section 234ASection 40

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH, ‘D’: NEW DELHI BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER AND SHRI N. K. CHOUDHRY, JUDICIAL MEMBER [Assessment Year: 2018-19] AXA France Vie, Assistant Commissioner of Income 5th Floor, Office Tower, Tax, District Centre, Vs Circle Int. Taxation-1(1)(1), Saket, Select City Walk, Plot New Delhi No.A-3, New Delhi-110017 PAN-AAPCA9799J Assessee Revenue Stay Application No.112/Del/2022 (Arising out of ITA No.439/DEL/2022) [Assessment Year: 2018-19] AXA France Vie, Assistant Commissioner of Income 5th Floor, Office Tower, Tax, District Centre, Vs Circle Int. Taxat…