ICICI Lombard General Insurance Co. Ltd. v. ACIT, (i)

54 SOT 538Income Tax Appellate Tribunal#16352 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2022.

Also reported as

156 ITD 146

Judgments citing ICICI Lombard General Insurance Co. Ltd. v. ACIT, (i)

M/S. STANDARD CHARTERED BANK,MUMBAI vs. THE ACIT (IT)1(3), MUMBAI

In the result, appeal filed by the assessee is allowed and appeal filed by the Revenue is dismissed

ITA 803/MUM/2009[1999-2000]Status: DisposedITAT Mumbai27 Sept 2022AY 1999-2000

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blestandard Chartered Bank V. Acit – Range-1(3) Taxation Department, 23-25 Scindia House, Ballard Estate M.G. Road, 3Rd Floor N.M. Marg, Mumbai - 400038 Fort, Mumbai - 400001 Pan: Aabcs4681D (Appellant) (Respondent) Adit (It)– 2(3) V. Standard Chartered Bank Room No. 120, 1St Floor Taxation Department, 23-25 Scindia House, Ballard Estate M.G. Road, 3Rd Floor N.M. Marg, Mumbai - 400038 Fort, Mumbai - 400001 Pan: Aabcs4681D (Appellant) (Respondent) Shri P.J. Pardiwala & Assessee Represented By : Shri Fenil Bhatt Shri Soumendu Kumar Dash Department Represented By :

Section 115JSection 14ASection 90Section 90(2)

…115JA of the Act. Thus, he submitted, the provisions of section 115JA of the Act cannot be applied to the assessee. In support of his contention, learned Sr. Counsel relied upon the following decisions:– ICICI Lombard General Insurance Co. Ltd. v/s ACIT, (i). 54 SOT 538 (Mum.); (ii). UCO Bank v/s DCIT, 156 ITD 146 (Kol.); (iii). State Bank of Hyderabad v/s DCIT, 58 SOT 278 (Hyd.); (iv). DCIT v/s Royal Bank of Scotland, 76 taxmann.com 91; and 18 ITA NO. 803 & 850/MUM/2009 (A.Y. 1999-2000) Standard Chartered Bank (v). Bank of Tokyo Mitsubishi UFJ Ltd. v/s ADIT, 49 taxmann.com 441.” 7. The learned Departmental Repre…

INCOME TAX OFFICER WARD-1(1)(2), BANGALORE vs. M/S ATRIA HYDEL POWER LIMITED , BANGALORE

In the result, ITA Nos.534 to 556/Bang/2018 and CO Nos

ITA 114/BANG/2019[2010-11]Status: DisposedITAT Bangalore28 Aug 2019AY 2010-11

Bench: Shri N. V. Vasudevan & Shri Jason P. Boazassessment Years : 2010-11 Income-Tax Officer, Vs. M/S. Atria Hydel Power Ltd., Ward - 1(1)(2), #1, Palace Road, Bengaluru. Bangalore-560 001. Pan : Aacca 3754 E Appellant Respondent

For Appellant: Shri. V. Srinivasan, AdvocateFor Respondent: Shri. Vikas Suryavamshi, Addl. CIT(DR)(ITAT), Bengaluru

Section 115Section 115JSection 143(3)Section 211(2)Section 80I

…he following decisions, wherein amendment to sub-section (2) of section 115JB of the Act vide Finance Act 2012 has been held to be prospective: - State Bank of Hyderabad v. DCIT: ITA No. 578/Hyd./2010 (Hyd.) - ICICI Lombart General Insurance Co. Ltd. V. ACIT: 54 SOT 538 (Mum.) 22.31 Applying the aforesaid legal principles, the Finance Act, 2012, in no uncertain terms, clearly provides that the provision of section 115JB(2) and Explanation 3 to said sub-section shall come in force with effect from April 1, 2013 and will accordingly apply in relation to the assessment year 2013-14 and onwards. Meaning thereby, the…

M/S. STANDARD CHARTERED BANK,MUMBAI vs. JT. CIT. SPL. RG. 27, MUMBAI

In the result, appeal is partly allowed

ITA 7891/MUM/2004[1997-1998]Status: DisposedITAT Mumbai12 Apr 2019AY 1997-1998

Bench: Shri Saktijit Dey & Shri Manoj Kumar Aggarwal

For Appellant: Shri P.J. Pardiwala a/wFor Respondent: Shri Manoj Kumar

Section 115JSection 90(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER ITA no.7891/Mum./2004 (Assessment Year : 1997–98) Standard Chartered Bank Taxation Department 23–25, M.B. Road, 3rd Floor ……………. Appellant Fort, Mumbai 400 001 PAN – AABCS4681D v/s Jt. Commissioner of Income Tax ……………. Respondent Special Range–27, Mumbai ITA no.9229/Mum./2004 (Assessment Year : 1997–98) Dy. Director of Income Tax (I.T) ……………. Appellant Range–2(1), Mumbai v/s Standard Chartered Bank 4th Floor, New Excelsior Building ……………. Respondent A.K. Naik Marg,…

M/S ATRIA POWER CORPROATION LTD.,,BANGALORE vs. ITO, BANGALORE

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

ITA 1394/BANG/2013[2010-11]Status: DisposedITAT Bangalore22 Dec 2017AY 2010-11

Bench: Shri Sunil Kumar Yadav & Shri A.K. Garodiaassessment Year : 2010-11

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri H.L. Sowmya Achar, Addl. CIT(DR)(ITAT), Bengaluru

Section 115JSection 211Section 234Section 80I

ABU-DHABI COMMERICAL BANK LTD,MUMBAI vs. DDIT (IT) 1(1), MUMBAI

In the result, appeal is partly allowed

ITA 6852/MUM/2012[2007-08]Status: DisposedITAT Mumbai21 Oct 2016AY 2007-08

Bench: Shri Rajendra & Shri Saktijit Deyआयकर अऩीऱ सं. / Ita No. 6852/Mum./2012 (ननधधारण वषा / Assessment Year : 2007–08) Abu Dhabi Commercial Bank Ltd. 75B, Rehmat Manzil …….………. अऩीऱधथी / Veer Nariman Road Appellant Mumbai 400 020 Pan – Aaaca4216B V/S Asstt. Commissioner Of Income Tax ..…….………. प्रत्यथी / (International Taxation), Circle–1(1) 117, Scindia House, Ballard Pier Respondent Mumbai 400 038 ननधधाररती की ओर से / Assessee By : Shri Dhanesh Bafna A/W Ms. Chandani Shah रधजस्व की ओर से / Revenue By : Shri Sanjeev Jain सुनवधई की तधरीख / आदेश घोषणध की तधरीख / Date Of Hearing – 28.09.2016 Date Of Order – 21.10.2016 आदेश / Order शक्तिजीि दे, न्याययक सदस्य के द्वारा / Per Saktijit Dey, J.M.

For Appellant: Shri Dhanesh Bafna a/wFor Respondent: Shri Sanjeev Jain

Section 1Section 10(15)(iv)Section 14ASection 44C

…a banking company as they are governed under the Banking Regulation Act and not Companies Act. In this context, learned Authorised Representative relied upon the decision fo the Tribunal in case of Krung Thai Bank PCL v/s JCIT, 133 TTJ 435, UCO Bank v/s DCIT, 156 ITD 146. 17. The learned Departmental Representative relied upon the order of the learned Commissioner (Appeals) and the Assessing Officer. 18. We have considered the submissions of the parties and perused the material available on record. Undisputedly, the assessee is a banking company governed by the Banking Regulation Act. In the case of Krung Thai B…

BSES RAJDHANI POWER LTD.,NEW DELHI vs. ACIT, NEW DELHI

The appeal is partly allowed

ITA 3688/DEL/2011[2005-06]Status: DisposedITAT Delhi05 Oct 2015AY 2005-06

Bench: Shri I.C. Sudhir & Shri Inturi Rama Rao Assessment Year : 2005-06 Bses Rajdhani Power Ltd., Vs. Assistant Cit, Bses Bhawan, Nehru Place, Circle-3(1), New Delhi. New Delhi. (Pan: Aagcs3187H) (Appellant) (Respondent) Assessment Year: 2005-06 Deputy Cit, Vs. Bses Rajdhani Power Ltd., Circle 3(1), Bses Bhavan, Nehru Place, New Delhi. New Delhi. (Pan: Aagcs3187H) (Appellant) (Respondent) Assessment Year : 2006-07 Bses Rajdhani Power Ltd., Vs. Assistant Cit, Bses Bhawan, Nehru Place, Circle-3(1), New Delhi. New Delhi. (Pan: Aagcs3187H) (Appellant) (Respondent) Assessment Year: 2006-07 Deputy Cit, Vs. Bses Rajdhani Power Ltd., Circle 3(1), Bses Bhavan, Nehru Place, New Delhi. New Delhi. (Pan: Aagcs3187H) (Appellant) (Respondent)

Section 154

…following decisions, wherein amendment to sub-section (2) of section 115JB of the Act vide Finance Act 2012 has been held to be prospective: - State Bank of Hyderabad v. DCIT: ITA No. 578/Hyd./2010 (Hyd.) - ICICI Lombart General Insurance Co. Ltd. V. ACIT: 54 SOT 538 (Mum.) 22.31 Applying the aforesaid legal principles, the Finance Act, 2012, in no uncertain terms, clearly provides that the provision of section 115JB(2) and Explanation 3 to said sub-section shall come in force with effect from April 1, 2013 and will accordingly apply in relation to the assessment year 2013- 14 and onwards. Meaning thereby,…