General Insurance Corporation of India v. Commissioner of Income Tax, Bombay

8 SCC 60Reported decision1999#25667 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 348,254 Indian tax judgments — from 2007 to 2025.

Sections most often in play

Section 10(38)Section 115JB Section 143(3)Section 32 Section 36(1)(vii)Section 40(a)(ii)Section 44

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Judgments citing General Insurance Corporation of India v. Commissioner of Income Tax, Bombay

M/S. the Oriental Insurance Co. Ltd., New Delhi vs. ACIT, New Delhi

In the result, the appeal of the assessee is partly allowed for statistical purposes

ITA 2492/DEL/2017[2006-07]Status: DisposedITAT Delhi14 Aug 2025AY 2006-07

Bench: Shri Vikas Awasthy & Shri M. Balaganeshm/S. The Oriental Insurance Co. Ltd, Vs. The Acit, A 25/27, Asaf Ali Road, New Delhi- Circle-16(1), 110003 New Delhi (Appellant) (Respondent) Pan: Aaact0627R Assessee By : Shri Tarandeep Singh, Adv Revenue By: Shri Mahesh Kumar, Cit (Dr) Date Of Hearing 19/05/2025 Date Of Pronouncement 14/08/2025

For Appellant: Shri Tarandeep Singh, AdvFor Respondent: Shri Mahesh Kumar, CIT (DR)

Section 10(38)Section 115JSection 143(3)Section 16Section 44Section 45Section 4A

…ras High Court categorically held that the provision for payment of income-tax is a liability and not an expenditure. The question again came up for consideration recently in General Insurance Corporation of India v. Commissioner of Income Tax, Bombay [(1999) 8 SCC 60] wherein this Court rejected the contention of the learned counsel for the assessee therein, in the fact situation obtaining in that case, opining : M/s. The Oriental Insurance Co. Ltd "19. There is another approach to the same issue. Section 44 of the Income Tax Act read with the rules contained in the First Schedule to the Act lays down an artifi…

The Principal Commissioner of Income Tax-II, Visakhapatnam vs. L. Suryakantham, Visakhapatnam

ITTA/280/2017HC Telangana08 Oct 2018

Bench: RAMESH RANGANATHAN,KONGARA VIJAYA LAKSHMI

…ed in 1995 (1) Supp 637. The challenge to the Act of 1976 was again made in the case of M/s Geo Millers Co. Pvt. Ltd. Vs. State of MP reported in (2004) 5 SCC 209. In case of Jindal Stripes Ltd. and others Vs. State of Haryana and others reported in (2003) 8 SCC 60 in which it has been observed by the Hon’ble Supreme Court that since concept of compensatory tax has been judicially evolved as and exception of provision of Article 301 of Constitution of India and parameters of this judicial concept are blurred, particularly by the decisions of Bhagatram (Supra) and Bihar Chambers of Commerce, we are of the v…

C0Mmnr. of Income Tax, New Delhi vs. Oriental Fire & General Insurance Co.Ltd

C.A. No.-002741-002741 - 2007Supreme Court18 May 2007

Bench: The Controller Of Insurance.

For Respondent: Oriental Fire & General Insurance Co. Ltd

Section 256Section 44

…High Court categorically held that the provision for payment of income-tax is a liability and not an expenditure. The question again came up for consideration recently in General Insurance Corporation of India v. Commissioner of Income Tax, Bombay [(1999) 8 SCC 60] wherein this Court rejected the contention of the learned counsel for the assessee therein, in the fact situation obtaining in that case, opining : "19. There is another approach to the same issue. Section 44 of the Income Tax Act read with the rules contained in the First Schedule to the Act lays down an artificial mode of computing…