High Courts of Bombay, Calcutta and Madras in CIT v. New Great Insurance Company Limited

90 ITR 348High Court1973#21584 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2012 to 2016.

Judgments citing High Courts of Bombay, Calcutta and Madras in CIT v. New Great Insurance Company Limited

Sonphankhi Shares & Securities P.Ltd, Mumbai vs. ITO WD 4(2)(2), Mumbai

In the result, assessee company appeal in ITA No 7068/Mum/2012 for assessment year 2009-10 is partly allowed

ITA 7068/MUM/2012[2009-10]Status: DisposedITAT Mumbai03 Aug 2016AY 2009-10

Bench: Shri Saktijit Dey & Shri Ramit Kochar

For Respondent: Dr. Suman Ratnam Darsi

Section 143(2)Section 143(3)Section 14ASection 234ASection 271(1)(c)Section 73

…P) Ltd. (supra), wherein the question was as under: "Whether, on the facts and in the circumstances of the case and in law, the Tribunal was justified in applying the decision of the Bombay High Court in the case of CIT v. New Great Insurance Co. Ltd. (1973) 90 ITR 348 (Bom) to the assessment year in question without considering the effect of the amendment operative from Ist April, 1968, and in thus holding that the assessee would be entitled to the deduction under section 80M on the gross dividend before deduction of the proportionate management expenses ?" Thus, when the decision of the Honble Bombay High Cou…

Saurashtra Fuels P.Ltd, Mumbai vs. DCIT Cir 3(3), Mumbai

In the result, assessee appeal in ITA No 7274/Mum/2012 for assessment year 2009-10 is partly allowed

ITA 7273/MUM/2012[2007-08]Status: DisposedITAT Mumbai06 Jun 2016AY 2007-08

Bench: Shri Saktijit Dey & Shri Ramit Kochar

For Respondent: Shri Ritesh Mishra(D.R.)

Section 143(2)Section 143(3)Section 14ASection 80M

…he question was as under: "Whether, on the facts and in the circumstances of the case and in law, the Tribunal was justified in applying the ITA 7273-74/Mum/2012 22 decision of the Bombay High Court in the case of CIT v. New Great Insurance Co. Ltd. (1973) 90 ITR 348 (Bom) to the assessment year in question without considering the effect of the amendment operative from Ist April, 1968, and in thus holding that the assessee would be entitled to the deduction under section 80M on the gross dividend before deduction of the proportionate management expenses ?" Thus, when the decision of the Honble Bombay High Cou…

CIT vs. Kribhco

ITA - 444 / 2011HC Delhi18 Jul 2012

Section 14ASection 2(45)Section 5Section 80ASection 80A(1)Section 80B(5)Section 80P(2)(d)

…ed by it from an Indian company, subject to the provisions contained in the Fifth Schedule.” 22. The said Section was interpreted by judgments of the High Courts of Bombay, Calcutta and Madras in CIT versus New Great Insurance Company Limited, (1973) 90 ITR 348 (Bom.), CIT versus Darbhanga Marketing Company Limited, (1971) 80 ITR 72 (Cal.) and CIT versus Madras Motor and General Insurance Company Limited, (1975) 99 ITR 243 (Mad.) and Madras Auto Services Private Limited versus ITO, (1975) 101 ITR 589 (Mad.). It was held that the gross amount of dividend received from an Indian company was excluded…

Commissioner of Income Tax

ITA/444/2011HC Delhi18 Jul 2012

Section 14ASection 2(45)Section 5Section 80ASection 80A(1)Section 80B(5)Section 80P(2)(d)