DIT vs Morgan Stanley & Co Inc: 292 ITR 416 (SC), DIT v. Morgan Stanley & Co Inc.

25 ITR 27Supreme Court of India1954#4010 most cited

What is DIT vs Morgan Stanley & Co Inc: 292 ITR 416 (SC), DIT v. Morgan Stanley & Co Inc. authority for?

Profits are not wholly made by the act of sale and do not necessarily accrue at the place of sale; profits attributable to manufacturing operations accrue where the business operations are carried on.

29

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2025.

Also referred to as

The Anglo French Textile Co Ltd vs CIT · 25 ITR 27 · profits accrue · place of business operations · accrual of profits · place of sale · manufacturing profits · business connection · attribution of profits · taxable territories

Sections most often in play

Section 143(3)Section 144C(13)Section 115ASection 209(1)(d)Section 234BSection 234DSection 44BBB(1)Section 9(1)(vii)

Issues it is cited on

section 44bbbdependent agent pesection 209(1)multilateral instrumentsection 44bbagency pesection 44bconstruction pefixed place pemake available clauseinterest u/s 234ctreaty benefits

Judgments citing DIT vs Morgan Stanley & Co Inc: 292 ITR 416 (SC), DIT v. Morgan Stanley & Co Inc.

LM WIND POWER AS ,DENMARK vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE INTERNATIONAL TAX 2(2)(1), DELHI

In the result, ground raised by the assessee is allowed

ITA 4280/DEL/2024[2020-21]Status: DisposedITAT Delhi21 Nov 2025AY 2020-21

Bench: Shris.Rifaur Rahman & Shri Yogesh Kumar U.S.Lm Wind Power As, Vs, Acit, Circle Juptervej 6, 6000 Kolding, International Tax 2(2)(1), Denmark – 999999. Delhi (Pan :Aabcl8590Q) (Appellant) (Respondent) Assessee By : Shri Ajay Vohra, Sr. Advocate Shri Aditya Vohra, Advocate Shri Arpitgoyal, Ca Revenue By : Shri Saroj Kumar Dubey, Cit Dr Date Of Hearing : 27.08.2025 Date Of Order : 21.11.2025 Order Per S. Rifaur Rahman: 1. This Appealpreferred By The Assessee Is Directed Against The Assessment Order Dated 27.01.2025 Passed By The Acit, Circle Int. Tax 2(2)(1), Delhi Under Section 143(3) R.W.S. 144C(13) Of The Income-Tax Act, 1961 (For Short ‘The Act”) For Assessment Year 2020-21 Pursuant To The Directions Of The Dispute Resolution Panel U/S 144C(5) Of The Act Raising Following Grounds Of Appeal :- “1. That On The Facts & Circumstances Of The Case & In Law, The Assessment Order Dated 29.07.2024 Passed Under Section 143(3) Read With Section 144C(13) Of The Income-Tax Act, 1961 (He Act") For Assessment Year 2020-21 Assessing The Total Income Of The Assessee At Rs.81,14, 14,893 Is Bad In Law, Void- Ab-Initio & Therefore, Liable To Be Quashed And/ Or Set Aside.

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri Saroj Kumar Dubey, CIT DR
Section 143(3)Section 144C(13)Section 144C(5)Section 271ASection 44DSection 5Section 92C

…s being done and the profits which arise by reason of sale are said to arise at the place where the sales are made. He further submitted that the aforesaid view was reiterated by the Hon’ble Supreme Court in the case of The Anglo French Textile Co Ltd vs CIT: 25 ITR 27 (SC), wherein it was observed that though profits may not be realized until the manufactured article is sold, profits are not wholly made by the act of sale and do not necessarily accrue at the place of sale. It was further observed that to the extent profits are attributable to the manufacturing operations, profits accrue at the place where the bu…

UK GRID SOLUTIONS LIMITED,UNITED KINGDOM vs. DCIT CIRCLE INTERNATIONAL TAX 3(1)(1), NEW DELHI

In the result, the appeal of the assessee in ITA No

ITA 885/DEL/2023[2017-18]Status: DisposedITAT Delhi13 Mar 2024AY 2017-18

Bench: Shri C. N. Prasad & Shri M. Balaganesh

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Vizay B. Vasanta, CIT DR
Section 143(3)Section 144C(13)

…vs ACIT: 195 ITD 384 (Del Trib.) 9.8.6 As with regard to principles of attribution to business connection/ PE he relied DIT vs Morgan Stanley & Co Inc: 292 ITR 416 (SC), DIT vs Morgan Stanley & Co Inc: 292 ITR 416 (SC), The Anglo French Textile Co Ltd vs CIT: 25 ITR 27 (SC), Annamalais Timber Trust and Co vs CIT: 41 ITR 781 (Mad), CIT vsBertrams Scotts Ltd: 31 Taxman 444 (Cal), CIT vs Hyundai Heavy Industries Co Ltd: 291 ITR 482 (SC), Samsung Heavy Industries Co Ltd vs DIT: 265 CTR 109 (Uttarakhand), Affirmed by the Supreme Court in 426 ITR 1(SC), DCIT vs Roxon OY: 106 ITD 489 (Mum Trib.) 10. DR however, supporte…

UK GRID SOLUTIONS LIMITED,UNITED KINGDOM vs. DCIT CIRCLE INTERNATIONAL TAX 3(1)(1), NEW DELHI

In the result, the appeal of the assessee in ITA No

ITA 884/DEL/2023[2016-17]Status: DisposedITAT Delhi13 Mar 2024AY 2016-17

Bench: Shri C. N. Prasad & Shri M. Balaganesh

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Vizay B. Vasanta, CIT DR
Section 143(3)Section 144C(13)

…vs ACIT: 195 ITD 384 (Del Trib.) 9.8.6 As with regard to principles of attribution to business connection/ PE he relied DIT vs Morgan Stanley & Co Inc: 292 ITR 416 (SC), DIT vs Morgan Stanley & Co Inc: 292 ITR 416 (SC), The Anglo French Textile Co Ltd vs CIT: 25 ITR 27 (SC), Annamalais Timber Trust and Co vs CIT: 41 ITR 781 (Mad), CIT vsBertrams Scotts Ltd: 31 Taxman 444 (Cal), CIT vs Hyundai Heavy Industries Co Ltd: 291 ITR 482 (SC), Samsung Heavy Industries Co Ltd vs DIT: 265 CTR 109 (Uttarakhand), Affirmed by the Supreme Court in 426 ITR 1(SC), DCIT vs Roxon OY: 106 ITD 489 (Mum Trib.) 10. DR however, supporte…

UK GRID SOLUTIONS LIMITED ,UNITED KINGDOM vs. DCIT CIRCLE INTL. TAXATION 3(1)(1), NEW DELHI

In the result, the appeal of the assessee in ITA No

ITA 2240/DEL/2023[2020-21]Status: DisposedITAT Delhi13 Mar 2024AY 2020-21

Bench: Shri C. N. Prasad & Shri M. Balaganesh

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Vizay B. Vasanta, CIT DR
Section 143(3)Section 144C(13)

…vs ACIT: 195 ITD 384 (Del Trib.) 9.8.6 As with regard to principles of attribution to business connection/ PE he relied DIT vs Morgan Stanley & Co Inc: 292 ITR 416 (SC), DIT vs Morgan Stanley & Co Inc: 292 ITR 416 (SC), The Anglo French Textile Co Ltd vs CIT: 25 ITR 27 (SC), Annamalais Timber Trust and Co vs CIT: 41 ITR 781 (Mad), CIT vsBertrams Scotts Ltd: 31 Taxman 444 (Cal), CIT vs Hyundai Heavy Industries Co Ltd: 291 ITR 482 (SC), Samsung Heavy Industries Co Ltd vs DIT: 265 CTR 109 (Uttarakhand), Affirmed by the Supreme Court in 426 ITR 1(SC), DCIT vs Roxon OY: 106 ITD 489 (Mum Trib.) 10. DR however, supporte…

UK GRID SOLUTIONS LIMITED ,UNITED KINGDOM vs. DCIT CIRCLE INTL. TAXATION 3(1)(1), NEW DELHI

In the result, the appeal of the assessee in ITA No

ITA 2239/DEL/2023[2015-16]Status: DisposedITAT Delhi13 Mar 2024AY 2015-16

Bench: Shri C. N. Prasad & Shri M. Balaganesh

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Vizay B. Vasanta, CIT DR
Section 143(3)Section 144C(13)

…vs ACIT: 195 ITD 384 (Del Trib.) 9.8.6 As with regard to principles of attribution to business connection/ PE he relied DIT vs Morgan Stanley & Co Inc: 292 ITR 416 (SC), DIT vs Morgan Stanley & Co Inc: 292 ITR 416 (SC), The Anglo French Textile Co Ltd vs CIT: 25 ITR 27 (SC), Annamalais Timber Trust and Co vs CIT: 41 ITR 781 (Mad), CIT vsBertrams Scotts Ltd: 31 Taxman 444 (Cal), CIT vs Hyundai Heavy Industries Co Ltd: 291 ITR 482 (SC), Samsung Heavy Industries Co Ltd vs DIT: 265 CTR 109 (Uttarakhand), Affirmed by the Supreme Court in 426 ITR 1(SC), DCIT vs Roxon OY: 106 ITD 489 (Mum Trib.) 10. DR however, supporte…

GE HYDRO FRANCE,NEW DELHI vs. DCIT, CIRCLE-1(3)(1), INTERNATIONAL TAXATION, NEW DELHI

In the result, the appeal of the assessee in ITA No

ITA 2086/DEL/2022[2019-20]Status: DisposedITAT Delhi13 Mar 2024AY 2019-20

Bench: Shri C. N. Prasad & Shri M. Balaganesh

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Aditya Vohra, Adv
Section 143(3)Section 144C(13)Section 40Section 44B

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “D”: NEW DELHI BEFORE SHRI C. N. PRASAD, JUDICIAL MEMBER AND SHRI M. BALAGANESH, ACCOUNTANT MEMBER ITA No.2085 & 2086/Del/2022 (Assessment Years: 2018-19 & 2019-20) GE Hydro France, Vs. DCIT, A-18, 1st Floor, Okhla Circle-1(3)(1), Industrial Phase-II, International Taxation, Tekhand, South East New Delhi Delhi, Okhla Industrial Estate SO, New Delhi (Appellant) (Respondent) PAN: AAFCA1688N Assessee by : Shri Ajay Vohra, Sr. Adv Revenue by: Shri Aditya Vohra, Adv Shri Arpit Goel, CA Date of Hearing 15/12/2023 Date of pronouncement 13/03/2024 O R D E R PER M. BALAGANESH,…

GE HYDRO FRANCE,NEW DELHI vs. DCIT, CIRCLE-1(3)(1), INTERNATIONAL TAXATION, NEW DELHI

In the result, the appeal of the assessee in ITA No

ITA 2085/DEL/2022[2018-19]Status: DisposedITAT Delhi13 Mar 2024AY 2018-19

Bench: Shri C. N. Prasad & Shri M. Balaganesh

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Aditya Vohra, Adv
Section 143(3)Section 144C(13)Section 40Section 44B

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “D”: NEW DELHI BEFORE SHRI C. N. PRASAD, JUDICIAL MEMBER AND SHRI M. BALAGANESH, ACCOUNTANT MEMBER ITA No.2085 & 2086/Del/2022 (Assessment Years: 2018-19 & 2019-20) GE Hydro France, Vs. DCIT, A-18, 1st Floor, Okhla Circle-1(3)(1), Industrial Phase-II, International Taxation, Tekhand, South East New Delhi Delhi, Okhla Industrial Estate SO, New Delhi (Appellant) (Respondent) PAN: AAFCA1688N Assessee by : Shri Ajay Vohra, Sr. Adv Revenue by: Shri Aditya Vohra, Adv Shri Arpit Goel, CA Date of Hearing 15/12/2023 Date of pronouncement 13/03/2024 O R D E R PER M. BALAGANESH,…

ATOMSTROYEXPORT ,MUMBAI vs. DCIT (IT)CIRCLE -1(1)(2), MUMBAI

In the result, the appeal of the assessee is allowed

ITA 575/MUM/2023[2020-2021]Status: DisposedITAT Mumbai12 Dec 2023AY 2020-2021

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

For Respondent: Shri Ajay Kumar Sharma, CIT-DR
Section 143(3)Section 234ASection 234BSection 44B

…endered its opinion on the premise that offshore supplies or offshore services were intimately connected with the turnkey project." In the above judgment the Apex Court referred to its own decisions in the case of Anglo- French Textile Co. Ltd. v. CIT [1954] 25 ITR 27 (SC), and also ITO v. Sriram Bearings Ltd. [1997] 224 ITR 724 (SC). After detailed discussion, the Hon'ble Court summarized its conclusion in respect of the offshore supply contract in the following manner: "79. We, therefore, hold as under : Re : Offshore Supply : (1) That only such part of the income, as is attributable to the operations carried…

ANDHRA BANK FINANCIAL SERVICES LIMITED vs. THE COMMISSIONER OF INCOME TAX-I

ITTA/320/2006HC Telangana09 Jun 2023

Bench: C.V. BHASKAR REDDY,UJJAL BHUYAN

Section 260

…e anterior to the point of time when the income becomes receivable ald connote a character of the income, which is more or less inchoate and which is something less than a receipt as held by the Supreme Court in the case of Anglo French Textile Co. Ltd. v CIT 25 ITR 27 (SC). The appetlant maintained accounts on mercantile I I ] \ s\'slcrn, it lrrd shorlrr tllose bonds as its assets in tlrc l,iililno(,sltcet (i,awn on 31,3-93 an(l also on 3 i .] ) I an(l jrr vicq ol rlrt' Supreme Court decision, it ltas lltle o\1 r sLtclL l,rrnds at thc rcle\.ant pcriod hrrs lrcen corrllrmcrl IIcnce, the appcllant ufas leqallr c…

ANDHRA BANK FINANCIAL SERVICES LTD,. HYDERABAD vs. THE COMMISSIONER OF INCOME TAX-I, HYDERABAD

ITTA/425/2005HC Telangana09 Jun 2023

Bench: C.V. BHASKAR REDDY,UJJAL BHUYAN

Section 260

…e anterior to the point of time when the income becomes receivable ald connote a character of the income, which is more or less inchoate and which is something less than a receipt as held by the Supreme Court in the case of Anglo French Textile Co. Ltd. v CIT 25 ITR 27 (SC). The appetlant maintained accounts on mercantile I I ] \ s\'slcrn, it lrrd shorlrr tllose bonds as its assets in tlrc l,iililno(,sltcet (i,awn on 31,3-93 an(l also on 3 i .] ) I an(l jrr vicq ol rlrt' Supreme Court decision, it ltas lltle o\1 r sLtclL l,rrnds at thc rcle\.ant pcriod hrrs lrcen corrllrmcrl IIcnce, the appcllant ufas leqallr c…

ANDHRA BANK FINANCIAL SERVICES LTD, HYDERABAD vs. THE COMMISSIONER OF INCOME TAX-I, HYDERABAD

ITTA/445/2005HC Telangana09 Jun 2023

Bench: C.V. BHASKAR REDDY,UJJAL BHUYAN

Section 260

…e anterior to the point of time when the income becomes receivable ald connote a character of the income, which is more or less inchoate and which is something less than a receipt as held by the Supreme Court in the case of Anglo French Textile Co. Ltd. v CIT 25 ITR 27 (SC). The appetlant maintained accounts on mercantile I I ] \ s\'slcrn, it lrrd shorlrr tllose bonds as its assets in tlrc l,iililno(,sltcet (i,awn on 31,3-93 an(l also on 3 i .] ) I an(l jrr vicq ol rlrt' Supreme Court decision, it ltas lltle o\1 r sLtclL l,rrnds at thc rcle\.ant pcriod hrrs lrcen corrllrmcrl IIcnce, the appcllant ufas leqallr c…

UK GRID SOLUTION LTD,UNITED KINGDOM vs. DCIT, CIRCLE-3(1)(1), INTERNATIONAL TAXATION, NEW DELHI

The appeal is allowed

ITA 2088/DEL/2022[2019-20]Status: DisposedITAT Delhi17 Apr 2023AY 2019-20

Bench: Sh. N.K.Billaiya & Sh.Anubhav Sharmaita No. 2088/Del/2022, A.Y. 2019-20 Uk Grid Solution Limited Vs. Deputy Commissioner Of St. Loeonards Building, Harry Income Tax Kerr Drive, Circle- 3(1)(1), Stafford, St16 1Wt, International Taxation United Kingdom New Delhi Pan : Aaica6271A

Section 143(3)Section 90(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘D’ : NEW DELHI) BEFORE SH. N.K.BILLAIYA, ACCOUNTANT MEMBER AND SH.ANUBHAV SHARMA, JUDICIAL MEMBER ITA No. 2088/Del/2022, A.Y. 2019-20 UK Grid Solution Limited Vs. Deputy Commissioner of St. LOeonards Building, Harry Income Tax Kerr Drive, Circle- 3(1)(1), Stafford, ST16 1WT, International Taxation United Kingdom New Delhi PAN : AAICA6271A Assesseeby Sh. Ajay Vohra, Sr. Adv., Aditya Vohra, Adv. & Arpit Goyal, CA Revenue by Shree Jitender Kumar, CIT(DR) Date of hearing: 09.02.2023 Date of Pronouncement: 17.04.2023 ORDER Per Anubhav Sharma, JM : The assessee h…

UK GRID SOLUTION LTD,UNITED KINGDOM vs. DCIT, CIRCLE-3(1)(1), INTERNATIONAL TAXATION, NEW DELHI

The appeal is allowed

ITA 2087/DEL/2022[2018-2019]Status: DisposedITAT Delhi12 Apr 2023AY 2018-2019

Bench: Sh. N.K.Billaiya & Sh.Anubhav Sharmaita No. 2087/Del/2022, A.Y. 2018-19 Uk Grid Solution Limited Vs. Deputy Commissioner Of St. Loeonards Building, Harry Income Tax Kerr Drive, Circle- 3(1)(1), Stafford, St16 1Wt, International Taxation United Kingdom New Delhi Pan : Aaica6271A

Section 143(3)Section 9Section 90(2)

…s ACIT: 195 ITD 384 (Del Trib.) 9.8.6 As with regard to principles of attribution to business connection/ PE he relied DIT vs Morgan Stanley & Co Inc: 292 ITR 416 (SC), DIT vs Morgan Stanley & Co Inc: 292 ITR 416 (SC), The Anglo French Textile Co Ltd vs CIT: 25 ITR 27 (SC), Annamalais Timber Trust and Co vs CIT: 41 ITR 781 (Mad), CIT vsBertrams Scotts Ltd: 31 Taxman 444 (Cal), CIT vs Hyundai Heavy Industries Co Ltd: 291 ITR 482 (SC), Samsung Heavy Industries Co Ltd vs DIT: 265 CTR 109 (Uttarakhand), Affirmed by the Supreme Court in 426 ITR 1(SC), DCIT vs Roxon OY: 106 ITD 489 (Mum Trib.) 10. Ld. DR however, sup…

MARUTI SUZUKI INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeal of the Revenue in ITA No

ITA 961/DEL/2015[2010-11]Status: DisposedITAT Delhi09 Feb 2023AY 2010-11

Bench: Shri Shamim Yahya & Shri Kul Bharat[Assessment Year : 2010-11] Maruti Suzuki India Ltd., Vs Dcit, Plot No.1, Nelson Mandela Road, Circle-16(1), Vasant Kunj, New Delhi-110070. New Delhi. Pan-Aaacm0829Q Appellant Respondent [Assessment Year : 2010-11] Dcit, Vs Maruti Suzuki India Ltd., Circle-16(1), Plot No.1, Nelson Mandela Road, New Delhi. Vasant Kunj, New Delhi-110070. Pan-Aaacm0829Q Appellant Respondent Appellant By Shri Ajay Vohra, Sr.Adv., Shri Neeraj Jain, Adv. & Ms. Tejasvi Jain & Ms. Somya Jain, Ca Respondent By Shri G.C.Srivastava, Adv., Shri Kalrav Mehrotra, Adv. & Shri Mayank Patawari, Ca Date Of Hearing 11.11.2022 Date Of Pronouncement 09.02.2023

Section 143(3)Section 144CSection 144C(5)Section 43Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “I” BENCH: NEW DELHI BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER & SHRI KUL BHARAT, JUDICIAL MEMBER [Assessment Year : 2010-11] Maruti Suzuki India Ltd., vs DCIT, Plot No.1, Nelson Mandela Road, Circle-16(1), Vasant Kunj, New Delhi-110070. New Delhi. PAN-AAACM0829Q APPELLANT RESPONDENT [Assessment Year : 2010-11] DCIT, vs Maruti Suzuki India Ltd., Circle-16(1), Plot No.1, Nelson Mandela Road, New Delhi. Vasant Kunj, New Delhi-110070. PAN-AAACM0829Q APPELLANT RESPONDENT Appellant by Shri Ajay Vohra, Sr.Adv., Shri Neeraj Jain, Adv. & Ms. Tejasvi Jain & Ms. Somya Jain, CA R…

DCIT, NEW DELHI vs. M/S. MARUTI SUZUKI INDIA LTD., NEW DELHI

In the result, the appeal of the Revenue in ITA No

ITA 1507/DEL/2015[2010-11]Status: DisposedITAT Delhi09 Feb 2023AY 2010-11

Bench: Shri Shamim Yahya & Shri Kul Bharat[Assessment Year : 2010-11] Maruti Suzuki India Ltd., Vs Dcit, Plot No.1, Nelson Mandela Road, Circle-16(1), Vasant Kunj, New Delhi-110070. New Delhi. Pan-Aaacm0829Q Appellant Respondent [Assessment Year : 2010-11] Dcit, Vs Maruti Suzuki India Ltd., Circle-16(1), Plot No.1, Nelson Mandela Road, New Delhi. Vasant Kunj, New Delhi-110070. Pan-Aaacm0829Q Appellant Respondent Appellant By Shri Ajay Vohra, Sr.Adv., Shri Neeraj Jain, Adv. & Ms. Tejasvi Jain & Ms. Somya Jain, Ca Respondent By Shri G.C.Srivastava, Adv., Shri Kalrav Mehrotra, Adv. & Shri Mayank Patawari, Ca Date Of Hearing 11.11.2022 Date Of Pronouncement 09.02.2023

Section 143(3)Section 144CSection 144C(5)Section 43Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “I” BENCH: NEW DELHI BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER & SHRI KUL BHARAT, JUDICIAL MEMBER [Assessment Year : 2010-11] Maruti Suzuki India Ltd., vs DCIT, Plot No.1, Nelson Mandela Road, Circle-16(1), Vasant Kunj, New Delhi-110070. New Delhi. PAN-AAACM0829Q APPELLANT RESPONDENT [Assessment Year : 2010-11] DCIT, vs Maruti Suzuki India Ltd., Circle-16(1), Plot No.1, Nelson Mandela Road, New Delhi. Vasant Kunj, New Delhi-110070. PAN-AAACM0829Q APPELLANT RESPONDENT Appellant by Shri Ajay Vohra, Sr.Adv., Shri Neeraj Jain, Adv. & Ms. Tejasvi Jain & Ms. Somya Jain, CA R…

DCIT, CHENNAI vs. M/S. UNITED INDIA INSURANCE CO. LTD., CHENNAI

In the result, all the appeals filed by the Revenue for the assessment years 2003-04, 2004-05, 2005-06, 2006-07, 2008-09,

ITA 1673/CHNY/2011[2003-04]Status: DisposedITAT Chennai26 Aug 2022AY 2003-04

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.:1673, 1688, 1689, 1691/Chny/2011 िनधा"रण वष" / Assessment Years: 2003-04, 2004-05, 2005-06, 2006-07 Assistant Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos: 1693/Chny/2011, 36/Chny/2014 & 696/Chny/2014 िनधा"रण वष" / Assessment Years: 2008-09, 2009-10 & 2010-11 Deputy Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee Represented By : Shri. S. Sundararaman, Ca Department Represented By : Shri. M. Swaminathan, Sr.Standing Counsel & Ms. V. Pushpa, Jr. Standing Counsel सुनवाई क" तार"ख/Date Of Hearing : 10.08.2022 घोषणा क" तार"ख/Date Of Pronouncement : 26.08.2022 आदेश /O R D E R

Section 195Section 195(1)Section 40Section 5(2)(b)

…ruing ' are general words descriptive of a right to receive profits". :-23-: ITA. No:1673, 1688, 1689, 1691 & 1693/Chny/2011 & 36 7 696/Chny/2014 62. The Supreme Court of India in the case of Anglo-French Textile Company Ltd. v. Commissioner of Income-Tax (25 ITR 27) has held on a question whether a particular part of the income, profits or gains arose or accrued within the taxable territories or outside the taxable territories would have to be decided having regard to the general principles as to where the income, profits or gains could be said to arise or accrue; 63. The Supreme Court of India in the case of…

ACIT, CHENNAI vs. UNITED INDIA INSURANCE COMPANY, CHENNAI

In the result, all the appeals filed by the Revenue for the assessment years 2003-04, 2004-05, 2005-06, 2006-07, 2008-09,

ITA 696/CHNY/2014[2010-11]Status: DisposedITAT Chennai26 Aug 2022AY 2010-11

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.:1673, 1688, 1689, 1691/Chny/2011 िनधा"रण वष" / Assessment Years: 2003-04, 2004-05, 2005-06, 2006-07 Assistant Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos: 1693/Chny/2011, 36/Chny/2014 & 696/Chny/2014 िनधा"रण वष" / Assessment Years: 2008-09, 2009-10 & 2010-11 Deputy Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee Represented By : Shri. S. Sundararaman, Ca Department Represented By : Shri. M. Swaminathan, Sr.Standing Counsel & Ms. V. Pushpa, Jr. Standing Counsel सुनवाई क" तार"ख/Date Of Hearing : 10.08.2022 घोषणा क" तार"ख/Date Of Pronouncement : 26.08.2022 आदेश /O R D E R

Section 195Section 195(1)Section 40Section 5(2)(b)

…ruing ' are general words descriptive of a right to receive profits". :-23-: ITA. No:1673, 1688, 1689, 1691 & 1693/Chny/2011 & 36 7 696/Chny/2014 62. The Supreme Court of India in the case of Anglo-French Textile Company Ltd. v. Commissioner of Income-Tax (25 ITR 27) has held on a question whether a particular part of the income, profits or gains arose or accrued within the taxable territories or outside the taxable territories would have to be decided having regard to the general principles as to where the income, profits or gains could be said to arise or accrue; 63. The Supreme Court of India in the case of…

ACIT, CHENNAI vs. M/S. UNITED INDIA INSURANCE CO. LTD., CHENNAI

In the result, all the appeals filed by the Revenue for the assessment years 2003-04, 2004-05, 2005-06, 2006-07, 2008-09,

ITA 36/CHNY/2014[2009-10]Status: DisposedITAT Chennai26 Aug 2022AY 2009-10

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.:1673, 1688, 1689, 1691/Chny/2011 िनधा"रण वष" / Assessment Years: 2003-04, 2004-05, 2005-06, 2006-07 Assistant Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos: 1693/Chny/2011, 36/Chny/2014 & 696/Chny/2014 िनधा"रण वष" / Assessment Years: 2008-09, 2009-10 & 2010-11 Deputy Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee Represented By : Shri. S. Sundararaman, Ca Department Represented By : Shri. M. Swaminathan, Sr.Standing Counsel & Ms. V. Pushpa, Jr. Standing Counsel सुनवाई क" तार"ख/Date Of Hearing : 10.08.2022 घोषणा क" तार"ख/Date Of Pronouncement : 26.08.2022 आदेश /O R D E R

Section 195Section 195(1)Section 40Section 5(2)(b)

…ruing ' are general words descriptive of a right to receive profits". :-23-: ITA. No:1673, 1688, 1689, 1691 & 1693/Chny/2011 & 36 7 696/Chny/2014 62. The Supreme Court of India in the case of Anglo-French Textile Company Ltd. v. Commissioner of Income-Tax (25 ITR 27) has held on a question whether a particular part of the income, profits or gains arose or accrued within the taxable territories or outside the taxable territories would have to be decided having regard to the general principles as to where the income, profits or gains could be said to arise or accrue; 63. The Supreme Court of India in the case of…

DCIT, CHENNAI vs. M/S. UNITED INDIA INSURANCE CO. LTD., CHENNAI

In the result, all the appeals filed by the Revenue for the assessment years 2003-04, 2004-05, 2005-06, 2006-07, 2008-09,

ITA 1693/CHNY/2011[2008-09]Status: DisposedITAT Chennai26 Aug 2022AY 2008-09

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.:1673, 1688, 1689, 1691/Chny/2011 िनधा"रण वष" / Assessment Years: 2003-04, 2004-05, 2005-06, 2006-07 Assistant Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos: 1693/Chny/2011, 36/Chny/2014 & 696/Chny/2014 िनधा"रण वष" / Assessment Years: 2008-09, 2009-10 & 2010-11 Deputy Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee Represented By : Shri. S. Sundararaman, Ca Department Represented By : Shri. M. Swaminathan, Sr.Standing Counsel & Ms. V. Pushpa, Jr. Standing Counsel सुनवाई क" तार"ख/Date Of Hearing : 10.08.2022 घोषणा क" तार"ख/Date Of Pronouncement : 26.08.2022 आदेश /O R D E R

Section 195Section 195(1)Section 40Section 5(2)(b)

…ruing ' are general words descriptive of a right to receive profits". :-23-: ITA. No:1673, 1688, 1689, 1691 & 1693/Chny/2011 & 36 7 696/Chny/2014 62. The Supreme Court of India in the case of Anglo-French Textile Company Ltd. v. Commissioner of Income-Tax (25 ITR 27) has held on a question whether a particular part of the income, profits or gains arose or accrued within the taxable territories or outside the taxable territories would have to be decided having regard to the general principles as to where the income, profits or gains could be said to arise or accrue; 63. The Supreme Court of India in the case of…

DCIT, CHENNAI vs. M/S. UNITED INDIA INSURANCE CO. LTD., CHENNAI

In the result, all the appeals filed by the Revenue for the assessment years 2003-04, 2004-05, 2005-06, 2006-07, 2008-09,

ITA 1691/CHNY/2011[2006-07]Status: DisposedITAT Chennai26 Aug 2022AY 2006-07

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.:1673, 1688, 1689, 1691/Chny/2011 िनधा"रण वष" / Assessment Years: 2003-04, 2004-05, 2005-06, 2006-07 Assistant Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos: 1693/Chny/2011, 36/Chny/2014 & 696/Chny/2014 िनधा"रण वष" / Assessment Years: 2008-09, 2009-10 & 2010-11 Deputy Commissioner Of Income M/S. United India Insurance Co. Tax, V. Ltd., Large Tax Payer Unit, 24, Whites Road, Chennai – Chennai. 600 014. [Pan: Aaacu-5552-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee Represented By : Shri. S. Sundararaman, Ca Department Represented By : Shri. M. Swaminathan, Sr.Standing Counsel & Ms. V. Pushpa, Jr. Standing Counsel सुनवाई क" तार"ख/Date Of Hearing : 10.08.2022 घोषणा क" तार"ख/Date Of Pronouncement : 26.08.2022 आदेश /O R D E R

Section 195Section 195(1)Section 40Section 5(2)(b)

…ruing ' are general words descriptive of a right to receive profits". :-23-: ITA. No:1673, 1688, 1689, 1691 & 1693/Chny/2011 & 36 7 696/Chny/2014 62. The Supreme Court of India in the case of Anglo-French Textile Company Ltd. v. Commissioner of Income-Tax (25 ITR 27) has held on a question whether a particular part of the income, profits or gains arose or accrued within the taxable territories or outside the taxable territories would have to be decided having regard to the general principles as to where the income, profits or gains could be said to arise or accrue; 63. The Supreme Court of India in the case of…

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DIT vs Morgan Stanley & Co Inc: 292 ITR 416 (SC), DIT v. Morgan Stanley & Co Inc. (25 ITR 27) — Cited in 29 Judgments | BharatTax