Dy. CIT v. Oriental General Insurance Co. Ltd.

92 TTJ 300Income Tax Appellate Tribunal2005#16232 most cited
6

judgments rely on this decision, according to BharatTax’s citation analysis of 348,631 Indian tax judgments — from 2018 to 2023.

Judgments citing Dy. CIT v. Oriental General Insurance Co. Ltd.

M/S Shriram General Insurance Company Ltd., E-8, Epip Riico Industrial Area, Sitapura, Jaipur vs. PCIT, Jaipur-2, Jaipur

In the result, this appeal of the assessee is allowed

ITA 260/JPR/2023[2018-19]Status: DisposedITAT Jaipur28 Jun 2023AY 2018-19

Bench: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri P.C. Parwal, CAFor Respondent: Shri Ajey Malik, CIT
Section 142(1)Section 143(2)Section 143(3)Section 14ASection 263Section 30Section 44

…ase of insurance company. As against this the assessee has specifically relied on the decision of ITAT, Pune Bench in case of Bajaj Allianz General Insurance Co. Ltd. Vs. Addl. CIT 38 DTR 282, Delhi ITAT in case of DCIT Vs. Oriental General Insurance Co. Ltd. 92 TTJ 300 and decision of Supreme Court in case of General Insurance Corporation of India Ltd. Vs. CIT 240 ITR 139(PB 23-24)considering which the AO has not made any disallowance u/s 14A.Thus none of the condition ofclause (a), (b) & (c) of Explanation 2 to section 263 is applicable. Hence the order passed by AO cannot be held to be erroneous so far as prej…

The Dharangadhra People'S Co. Op. Bank Ltd., Dhrangadhra vs. The Dy. Commr. Income Tax, Surendranagar Circle, Surendranagar

In the result, the appeal of the assessee is allowed

ITA 130/RJT/2017[2012-13]Status: DisposedITAT Rajkot18 Dec 2019AY 2012-13

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./I.T.A. Nos.130-131/Rjt/2017 ("नधा"रण वष" / Assessment Years: 2012-13 & 2013-14) बनाम/ The Dharangadhra People’S D.C.I.T, Co-Op. Bank Ltd., Surendranagar Circle, Vs. Kalpvarksh, Mandvi Chowk, Surendranagar. Dhrangadhara, Surendranagar Circle, Surendranagar. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaat1192R (अपीलाथ" /Appellant) (""यथ" / Respondent) .. अपीलाथ" ओर से / Appellant By : Shri D.M. Rindani, A.R ""यथ" क" ओर से/Respondent By : Shri Anil Kumar, Sr. D.R सुनवाई क" तार"ख / Date Of Hearing 20/09/2019 घोषणा क" तार"ख /Date Of Pronouncement 18/12/2019 आदेश / O R D E R Per Waseem Ahmed: The Captioned Appeal Has Been Filed At The Instance Of The Assessee Against The Separate Order Of The Learned Commissioner Of Income Tax (Appeals)-7, Ahmedabad [Ld. Cit(A) In Short] Of Even Dated 01/02/2017, Arising In The Matter Of Assessment Order Passed Under S. 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As "The Act") Dated 16/02/2015 & 27/11/2015 Relevant To Assessment Years (A.Y.S) 2012-13 & 2013-14 Respectively.

For Appellant: Shri D.M. Rindani, A.RFor Respondent: Shri Anil Kumar, Sr. D.R
Section 139(3)Section 139(4)Section 80

…e investment written off by the insurance company was allowed as deduction treating the same as business loss. In this regard we find support and guidance from the order of Delhi ITAT in the case of DCIT Vs. Oriental General Insurance Company Ltd. reported in 92 TTJ 300 wherein it was held as under: “In the instant case, the entries made in the assessee’s books of account in that behalf were strictly in accordance with the guidelines issued by General Insurance Corporation. Those guidelines permitted the assessee to book a loss which had, for all practical purposes, been suffered on account of depreciation in val…

Deputy Commissioner of Income-Tax, Pune vs. M/S. Bajaj Allianz General Insurance Company Ltd, Pune

In the result, appeal of the Revenue in ITA No

ITA 1112/PUN/2017[2014-15]Status: DisposedITAT Pune25 Jul 2019AY 2014-15

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अऩीऱ सं./ Ita Nos.1111 & 1112/Pun/2017 यनधाारण वषा / Assessment Years: 2013-14 & 2014-15

For Appellant: Shri Nikhil Mutha &For Respondent: Shri N Ashok Babu
Section 14ASection 28Section 44

…I.T Act, 1961.” From the above, it is evident that the CIT(Appeals) granted relief to the assessee relying on the various decisions of the Tribunal as well as the Hon‟ble Delhi High Court in the case of Dy. CIT Vs. Oriental General Insurance Co. Ltd. (2005) 92 TTJ 300 (Delhi). CO Nos. 23 & 24/PUN/2019 A.Ys. 2013-14 & 2014-15 7. Considering the settled nature of the issue, we are of the opinion that the order of the CIT(Appeal) on this issue is fair and reasonable and it does not call for any interference. Accordingly, ground Nos. 2 to 5 raised in appeal by the Revenue is dismissed. 8. In the result, appeal of…

Deputy Commissioner of Income-Tax, Pune vs. M/S. Bajaj Allianz General Insurance Company Ltd, Pune

In the result, appeal of the Revenue in ITA No

ITA 1111/PUN/2017[2013-14]Status: DisposedITAT Pune25 Jul 2019AY 2013-14

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अऩीऱ सं./ Ita Nos.1111 & 1112/Pun/2017 यनधाारण वषा / Assessment Years: 2013-14 & 2014-15

For Appellant: Shri Nikhil Mutha &For Respondent: Shri N Ashok Babu
Section 14ASection 28Section 44

…I.T Act, 1961.” From the above, it is evident that the CIT(Appeals) granted relief to the assessee relying on the various decisions of the Tribunal as well as the Hon‟ble Delhi High Court in the case of Dy. CIT Vs. Oriental General Insurance Co. Ltd. (2005) 92 TTJ 300 (Delhi). CO Nos. 23 & 24/PUN/2019 A.Ys. 2013-14 & 2014-15 7. Considering the settled nature of the issue, we are of the opinion that the order of the CIT(Appeal) on this issue is fair and reasonable and it does not call for any interference. Accordingly, ground Nos. 2 to 5 raised in appeal by the Revenue is dismissed. 8. In the result, appeal of…

Bajaj Allianz General Insurance Compny Limited, Pune vs. Deputy Commissioner of Income Tax

Appeal of the assessee is allowed

ITA 26/PUN/2017[2011-12]Status: DisposedITAT Pune19 Sept 2018AY 2011-12

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं आयकर अपील सं. / Ita No.2896/Pun/2016 आयकर अपील सं आयकर अपील सं िनधा"रण वष" िनधा"रण वष" / Assessment Year : 2011-12 िनधा"रण वष" िनधा"रण वष"

For Appellant: Shri Nikhil Mutha & Shri Rajat SoniFor Respondent: Shri Sudhendu Das
Section 143(3)Section 14ASection 28Section 44Section 92ASection 92C

…r decision of that very Bench decided in the case of that very assessee vide order dated 29th September 2004 bearing ITA Nos. 7815/Del/1989; 3607 to 3609/Del/1990; 5035/Del/1998 & 3910/Del/2000 named as DCIT vs. Oriental General Insurance Co. Ltd. reported in 92 TTJ 300 (Del). As seen from the paras reproduced above on due consideration of the relevant provisions as applicable to resolve this issue a conclusion was drawn that since the Courts have held, sec. 44 creates a special provision in the cases of assessment of Insurance Companies therefore it was not permissible to the A.O to travel beyond sec. 44 of Firs…

Assistant Commissioner of Income Tax vs. Somnath Vaijanath Sakre, Aurangabad

Appeal of the assessee is allowed

ITA 2986/PUN/2016[2012-13]Status: DisposedITAT Pune19 Sept 2018AY 2012-13

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं आयकर अपील सं. / Ita No.2896/Pun/2016 आयकर अपील सं आयकर अपील सं िनधा"रण वष" िनधा"रण वष" / Assessment Year : 2011-12 िनधा"रण वष" िनधा"रण वष"

For Appellant: Shri Nikhil Mutha & Shri Rajat SoniFor Respondent: Shri Sudhendu Das
Section 143(3)Section 14ASection 28Section 44Section 92ASection 92C

…r decision of that very Bench decided in the case of that very assessee vide order dated 29th September 2004 bearing ITA Nos. 7815/Del/1989; 3607 to 3609/Del/1990; 5035/Del/1998 & 3910/Del/2000 named as DCIT vs. Oriental General Insurance Co. Ltd. reported in 92 TTJ 300 (Del). As seen from the paras reproduced above on due consideration of the relevant provisions as applicable to resolve this issue a conclusion was drawn that since the Courts have held, sec. 44 creates a special provision in the cases of assessment of Insurance Companies therefore it was not permissible to the A.O to travel beyond sec. 44 of Firs…

Dy. CIT v. Oriental General Insurance Co. Ltd. (92 TTJ 300) — Cited in 6 Judgments | BharatTax