Co.Ltd. v. DDIT and ICICI Lombard General Insurance Co.Ltd Vs ACIT

52 Taxmann.com 471Reported decision2014#7946 most cited

What is Co.Ltd. v. DDIT and ICICI Lombard General Insurance Co.Ltd Vs ACIT authority for?

Reinsurance is an arrangement where an insurer transfers risk to a reinsurer to reduce its liability. This arrangement does not affect the relationship between the original insured and the direct insurer.

14

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2022 to 2022.

Also referred to as

Co.Ltd. v. DDIT · ICICI Lombard General Insurance Co.Ltd Vs ACIT · 52 Taxmann.com 471 · reinsurance · insurer · reinsurer · risk transfer · liability reduction

Judgments citing Co.Ltd. v. DDIT and ICICI Lombard General Insurance Co.Ltd Vs ACIT

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

ITA 1621/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…

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

ITA 1620/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…

ACIT, Chennai vs. M/S. Cholamandalam Ms General Insurance Company Limited, Chennai

ITA 40/CHNY/2009[2005-06]Status: DisposedITAT Chennai26 Aug 2022AY 2005-06

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…

M/S. Cholamandalam Ms General Insurance Company Ltd., Chennai vs. ACIT, Chennai

ITA 2146/CHNY/2008[2005-06]Status: DisposedITAT Chennai26 Aug 2022AY 2005-06

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…

ACIT Ltu 2, Chennai vs. Cholamandalam Ms General Insurance Company Limited, Chennai

ITA 950/CHNY/2018[2010-11]Status: DisposedITAT Chennai26 Aug 2022AY 2010-11

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…

ACIT Ltu 2, Chennai vs. Cholamandalam Ms General Insurance Company Limited, Chennai

ITA 949/CHNY/2018[2010-11]Status: DisposedITAT Chennai26 Aug 2022AY 2010-11

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…

M/S Cholamandalam Ms General Insusrance Company Limited, Chennai vs. DCIT, Parge Tax Payer Unit 2

ITA 784/CHNY/2018[2010-11]Status: DisposedITAT Chennai26 Aug 2022AY 2010-11

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…

M/S Cholamandalam Ms General Insusrance Company Limited, Chennai vs. DCIT, Parge Tax Payer Unit 2

ITA 783/CHNY/2018[2010-11]Status: DisposedITAT Chennai26 Aug 2022AY 2010-11

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…

M/S Cholamandalam Ms General Insusrance Company Limited, Chennai vs. DCIT, Parge Tax Payer Unit 2

ITA 782/CHNY/2018[2013-14]Status: DisposedITAT Chennai26 Aug 2022AY 2013-14

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 Limited, Chennai vs. DCIT, Chennai

ITA 2276/CHNY/2014[2009-10]Status: DisposedITAT Chennai26 Aug 2022AY 2009-10

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. 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…

Co.Ltd. v. DDIT and ICICI Lombard General Insurance Co.Ltd Vs ACIT (52 Taxmann.com 471) — Cited in 14 Judgments | BharatTax