M/s. GIC v. ACIT

Cholamandalam Ms General Insurance Co. Ltd., Chennai vs. PCIT-4, Chennai

Bench: Shri Manu Kumar Giri & Shri S.R.Raghunathaआयकर अपील सं./Ita No 3261/Chny/2024 निर्धारण वर्ष/Assessment Year: 2020-21 Cholamandalam Ms General Insurance Company Limited, No. 2 Dare House, Chennai G.P.O, Parrys, Chennai-600001. V. Principal Commissioner Of Income Tax-4, Pcit, Chennai Room No 301, 3Rd Floor, Wanaparthy Block, 121, Mahatma Gandhi Road, Nungambakkam, Chennai-600034 [Pan: Aabcc 6633 K] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से//Assessee By प्रत्योंकों की ओर से/Respondent By सुनवाई की तारीख/Date Of Hearing घोषणाकीतारीख/Date Of Pronouncement : Mr. Sandeep Bagmar, R, Advocate : Mr. Shiva Srinivas, Cit : 25.11.2025 : 18.02.2026 आदेश / Order Per Manu Kumar Giri: This Appeal Filed By The Assessee Is Directed Against The Order Dated 20.11.2024 Passed By The Principal Commissioner Of Income Tax, Chennai-4 (Hereinafter Referred To As "Pcit") U/S. 263 Of The Income Tax Act, 1961, ("The Act") For Assessment Year (Ay) 2020- 21.

…eneral Insurance in ITA No. 14/ MUM/2021 dated 08 March 2022 (Mum ITAT) Further, the finding and the decision of the Hon'ble Chennai Tribunal on the issue of IBNR & IBNER was found to be per incurium by the Hon'ble Bombay High Court in the case of GIC VS ACIT 422 ITR 248 dated 14 October 2019. The Learned CIT(A) in Assessee's own case for AY 2012-13 had held the issue in favour of the Company in Appeal No. CIT (A), Chennai- ITA 3261 Chny 2024 AY 2020-21) Cholamandalam MS General Insurance Co. Ltd. Vs PCIT-4 :: 12 :: 17/10039/2016-17 dated 29 December 2023 (Page No. 426 to 468 of Factual Paperbook). Relevant extra…

Cholamandalam Ms General Insurance Co. Ltd., Chennai vs. PCIT-4, Chennai

In the result, appeal filed by the assessee is allowed

Bench: Shri Aby T. Varkey & Shri Jagadish

…ns made for expenses under the head ‘IBNR & IBNER’ of Rs.351.7 Crs as deduction which is on the basis of ratio laid down by the Mumbai & Kolkata Tribunals (supra) as well as later by the Hon’ble Bombay High Court in the case of M/s. GIC v. ACIT reported in 422 ITR 248 wherein the Hon’ble Bombay High Court even made an observation that the Chennai Tribunal view in this regard [in the assessee’s own case for AY 2009-10 following the view in M/s. United India Insurance Co. Ltd. v. JCIT reported in [2018] 97 taxmann.com 466] as per incuriam i.e. the view holding that the provisions of expenses in respect of ‘IBN…

Deputy Commissinoer of Income Tax, Chennai vs. Cholamandalam Ms General Insurance Company Limited, Chennai

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita Nos.1282, 1283, 1284 & 1285/Chny/2024 निर्धारण वर्ष/Assessment Years: 2011-12, 2016-17, 2017-18 & 2018-19 M/S. Cholamandalam Ms General Insurance Co. Ltd., Dare House, 2Nd Floor, No.2, N.S.C. Bose Road, Chennai-600 001. V. The Dcit, Non Corporate Circle-8, Chennai. [Pan: Aabcc 6633 K] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) आयकर अपील सं./Ita Nos.470, 1339, 1438, 1462 & 1463/Chny/2024 निर्धारण वर्ष/Assessment Years: 2012-13, 2018-19, 2011-12, 2016-17 & 2017-18 The Dcit, Non Corporate Circle-8, Chennai. (अपीलार्थी/Appellant) M/S. Cholamandalam Ms General Insurance Co. Ltd., Dare House, 2Nd Floor, No.2, N.S.C. Bose Road, Chennai-600 001. [Pan: Aabcc 6633 K] (प्रत्यर्थी/Respondent) Assessee By Mr. Sandeep Bagmar, Advocate; Mr. Balachandar, Fca Department By Mr. Nilay Baran Som, Cit सुनवाईकीतारीख/Date Of Hearing 22.01.2025 घोषणाकीतारीख /Date Of Pronouncement 19.03.2025

…ce with the IRDA Regulations. We consequently find no error in the view ultimately taken by the Tribunal...." We have also noted that the latest decision on the subject has been delivered by Hon'ble Bombay High Court in the Writ petition No.2271 of 2019 as at 422 ITR 248 in the case of General Insurance Corporation of India holding as under: - "..... 11. So far as Issue No.1 above is concerned, the Petitioner submits that same stands concluded in its favour by virtue of the decision dated 11 October 2017 of the Mumbai Bench of the Tribunal in Dy. CIT V. ECGC (IT Appeal No. 7657 (Mum.) of 2014] and the Kolkata Be…

Deputy Commissioner of Incometax, Chennai vs. Cholamandalam Ms General Insurance Company Limited, Chennai

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita Nos.1282, 1283, 1284 & 1285/Chny/2024 निर्धारण वर्ष/Assessment Years: 2011-12, 2016-17, 2017-18 & 2018-19 M/S. Cholamandalam Ms General Insurance Co. Ltd., Dare House, 2Nd Floor, No.2, N.S.C. Bose Road, Chennai-600 001. V. The Dcit, Non Corporate Circle-8, Chennai. [Pan: Aabcc 6633 K] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) आयकर अपील सं./Ita Nos.470, 1339, 1438, 1462 & 1463/Chny/2024 निर्धारण वर्ष/Assessment Years: 2012-13, 2018-19, 2011-12, 2016-17 & 2017-18 The Dcit, Non Corporate Circle-8, Chennai. (अपीलार्थी/Appellant) V. M/S. Cholamandalam Ms General Insurance Co. Ltd., Dare House, 2Nd Floor, No.2, N.S.C. Bose Road, Chennai-600 001. [Pan: Aabcc 6633 K] (प्रत्यर्थी/Respondent) Assessee By Department By : Mr. Sandeep Bagmar, Advocate; Mr. Balachandar, Fca : Mr. Nilay Baran Som, Cit सुनवाईकीतारीख/Date Of Hearing : 22.01.2025 घोषणाकीतारीख /Date Of Pronouncement : 19.03.2025

…ce with the IRDA Regulations. We consequently find no error in the view ultimately taken by the Tribunal...." We have also noted that the latest decision on the subject has been delivered by Hon'ble Bombay High Court in the Writ petition No.2271 of 2019 as at 422 ITR 248 in the case of General Insurance Corporation of India holding as under: - "..... 11. So far as Issue No.1 above is concerned, the Petitioner submits that same stands concluded in its favour by virtue of the decision dated 11 October 2017 of the Mumbai Bench of the Tribunal in Dy. CIT V. ECGC (IT Appeal No. 7657 (Mum.) of 2014] and the Kolkata Be…

Deputy Commissioner of Income Tax, Chennai vs. Cholamandalam Ms General Insurance Company Limited, Chennai

In the result, Revenue Appeal for AY 2012-13 stands dismissed

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwal

…ith the IRDA Regulations. We consequently find no error in the view ultimately taken by the Tribunal….” 13.5 We have also noted that the latest decision on the subject has been delivered by Hon’ble Bombay High Court in the Writ petition No.2271 of 2019 as at 422 ITR 248 in the case of General Insurance Corporation of India holding as under:- “…..11. So far as Issue No.1 above is concerned, the Petitioner submits that same stands concluded in its favour by virtue of the decision dated 11 October 2017 of the Mumbai Bench of the Tribunal in Dy. CIT V. ECGC (IT Appeal No. 7657 (Mum.) of 2014] and the Kolkata Bench…

Deputy Commissioner of Income Tax, Nungambakkam Chennai vs. Cholamandalam Ms General Insurance Company Limited, Chennai

In the result, Revenue Appeal for AY 2012-13 stands dismissed

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwal

…ith the IRDA Regulations. We consequently find no error in the view ultimately taken by the Tribunal….” 13.5 We have also noted that the latest decision on the subject has been delivered by Hon’ble Bombay High Court in the Writ petition No.2271 of 2019 as at 422 ITR 248 in the case of General Insurance Corporation of India holding as under:- “…..11. So far as Issue No.1 above is concerned, the Petitioner submits that same stands concluded in its favour by virtue of the decision dated 11 October 2017 of the Mumbai Bench of the Tribunal in Dy. CIT V. ECGC (IT Appeal No. 7657 (Mum.) of 2014] and the Kolkata Bench…

Deputy Commissioner of Income Tax Officer, Chennai vs. Cholamandalam Ms General Insurance Company Limited, Chennai

In the result, Revenue Appeal for AY 2012-13 stands dismissed

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwal

…ith the IRDA Regulations. We consequently find no error in the view ultimately taken by the Tribunal….” 13.5 We have also noted that the latest decision on the subject has been delivered by Hon’ble Bombay High Court in the Writ petition No.2271 of 2019 as at 422 ITR 248 in the case of General Insurance Corporation of India holding as under:- “…..11. So far as Issue No.1 above is concerned, the Petitioner submits that same stands concluded in its favour by virtue of the decision dated 11 October 2017 of the Mumbai Bench of the Tribunal in Dy. CIT V. ECGC (IT Appeal No. 7657 (Mum.) of 2014] and the Kolkata Bench…

Cholamandalam Ms General Insurance Company Limited, Chennai vs. DCIT, Non Corp Ward 8, Chennai

In the result, Revenue Appeal for AY 2012-13 stands dismissed

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwal

…ith the IRDA Regulations. We consequently find no error in the view ultimately taken by the Tribunal….” 13.5 We have also noted that the latest decision on the subject has been delivered by Hon’ble Bombay High Court in the Writ petition No.2271 of 2019 as at 422 ITR 248 in the case of General Insurance Corporation of India holding as under:- “…..11. So far as Issue No.1 above is concerned, the Petitioner submits that same stands concluded in its favour by virtue of the decision dated 11 October 2017 of the Mumbai Bench of the Tribunal in Dy. CIT V. ECGC (IT Appeal No. 7657 (Mum.) of 2014] and the Kolkata Bench…

Cholamandalam Ms General Insurance Company Limited, Chennai vs. DCIT, Non Corp Circle 8, Chennai

In the result, Revenue Appeal for AY 2012-13 stands dismissed

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwal

…ith the IRDA Regulations. We consequently find no error in the view ultimately taken by the Tribunal….” 13.5 We have also noted that the latest decision on the subject has been delivered by Hon’ble Bombay High Court in the Writ petition No.2271 of 2019 as at 422 ITR 248 in the case of General Insurance Corporation of India holding as under:- “…..11. So far as Issue No.1 above is concerned, the Petitioner submits that same stands concluded in its favour by virtue of the decision dated 11 October 2017 of the Mumbai Bench of the Tribunal in Dy. CIT V. ECGC (IT Appeal No. 7657 (Mum.) of 2014] and the Kolkata Bench…

Cholamandalam Ms General Insurance Company Limited, Chennai vs. DCIT, Non Corp Circle 8, Chennai

…ce with the IRDA Regulations. We consequently find no error in the view ultimately taken by the Tribunal...." We have also noted that the latest decision on the subject has been delivered by Hon'ble Bombay High Court in the Writ petition No.2271 of 2019 as at 422 ITR 248 in the case of General Insurance Corporation of India holding as under: - ".....11. So far as Issue No.1 above is concerned, the Petitioner submits that same stands concluded in its favour by virtue of the decision dated 11 October 2017 of the Mumbai Bench of the Tribunal in Dy. CIT V. ECGC (IT Appeal No. 7657 (Mum.) of 2014] and the Kolkata Benc…

Royal Sundaram General Insurance Company Ltd, Chennai vs. DCIT, Ltu, Chennai

In the result, the appeals of the assesse and Revenue are dealt as under:-

Bench: Shri Aby T Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita Nos.86, 87, 88, 89, 90, 91, 92 & 93 /Chny/2018 निर्धारण वर्ा /Assessment Years: 2008-09, 2009-10, 2010-11, 2011-12, 2011-12, 2012-13, 2013-14, 2014-15, M/S.Royal Sundaram General Dy. Commissioner Of Income Tax, Insurance Company Limited, Large Tax Payer Unit, Vishranthi Melaram Towers, Chennai. No.2/319, Rajiv Gandhi Salai(Omr), Karapakkam, Chennai-600 097. [Pan: Aabcr7106G] आयकर अपील सं./Ita Nos.491, 492, 493, 494, 495 & 496 /Chny/2018 निर्धारण वर्ा /Assessment Years: 2008-09, 2010-11, 2011-12, 2012-13, 2013-14, 2014-15 Dy. Commissioner Of Income Tax, M/S.Royal Sundaram General Large Tax Payer Unit, Insurance Company Limited, Chennai. Vishranthi Melaram Towers, No.2/319, Rajiv Gandhi Salai(Omr), Karapakkam, Chennai-600 097. [Pan: Aabcr7106G] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) : Shri Vikaram Vijayaraghavan, Advocate अपीलार्थी की ओर से/ Assessee By प्रत्यर्थी की ओर से /Revenue By : Shri A.Sanjay For Ms V.Pushpa, Sr.Standing Counsel For It Dept. सुनवाई की तारीख/Date Of Hearing : 15.10.2024 घोषणा की तारीख /Date Of Pronouncement : 08.01.2025

…ith the IRDA Regulations. We consequently find no error in the view ultimately taken by the Tribunal….” 13.5 We have also noted that the latest decision on the subject has been delivered by Hon’ble Bombay High Court in the Writ petition No.2271 of 2019 as at 422 ITR 248 in the case of General Insurance Corporation of India holding as under:- “…..11. So far as Issue No.1 above is concerned, the Petitioner submits that same stands concluded in its favour by virtue of the decision dated 11 October 2017 of the Mumbai Bench of the Tribunal in Dy. CIT V. ECGC (IT Appeal No. 7657 (Mum.) of 2014] and the Kolkata Bench…

Royal Sundaram General Insurance Company Ltd, Chennai vs. DCIT, Ltu, Chennai

Bench: Shri Aby T Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita Nos.86, 87, 88, 89, 90, 91, 92 & 93 /Chny/2018 निर्धारण वर्ष /Assessment Years: 2008-09, 2009-10, 2010-11, 2011-12, 2011-12, 2012-13, 2013-14, 2014-15, M/S.Royal Sundaram General Insurance Company Limited, Vishranthi Melaram Towers, No.2/319, Rajiv Gandhi Salai(Omr), Karapakkam, Chennai-600 097. [Pan: Aabcr7106G] Dy. Commissioner Of Income Tax, Large Tax Payer Unit, Chennai. आयकर अपील सं./Ita Nos.491, 492, 493, 494, 495 & 496 /Chny/2018 निर्धारण वर्ष /Assessment Years: 2008-09, 2010-11, 2011-12, 2012-13, 2013-14, 2014-15 Dy. Commissioner Of Income Tax, M/S.Royal Sundaram General Large Tax Payer Unit, Insurance Company Limited, Chennai. Vishranthi Melaram Towers, No.2/319, Rajiv Gandhi Salai(Omr), Karapakkam, Chennai-600 097. [Pan: Aabcr7106G] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से / Assessee By : Shri Vikaram Vijayaraghavan, Advocate प्रत्यर्थी की ओर से /Revenue By : Shri A.Sanjay For Ms V.Pushpa, सुनवाई की तारीख/Date Of Hearing : Sr.Standing Counsel For It Dept. 15.10.2024 घोषणा की तारीख /Date Of Pronouncement : 08.01.2025 आदेश / Order Per Bench: The Following Appeals Have Been Raised By The Appellant Assessee & Appellant Revenue Contesting Assessment / Appellate Orders For Ays 2008-09 To Ay 2014-15. As The Grounds Of Appeal In Respective Appeals Of Assessee & Revenue Are Largely Common, All The Appeals Are Adjudicated Through This Common Orders. S. No. Appeal Nos. Ays Appellate Cit(A) Order Details Revenue A B C D E F 1 2 3

…th the IRDA Regulations. We consequently find no error in the view ultimately taken by the Tribunal...." 13.5 We have also noted that the latest decision on the subject has been delivered by Hon'ble Bombay High Court in the Writ petition No.2271 of 2019 as at 422 ITR 248 in the case of General Insurance Corporation of India holding as under:- “.....11. So far as Issue No.1 above is concerned, the Petitioner submits that same stands concluded in its favour by virtue of the decision dated 11 October 2017 of the Mumbai Bench of the Tribunal in Dy. CIT V. ECGC (IT Appeal No. 7657 (Mum.) of 2014] and the Kolkata Bench…

DCIT Ltu 1, Chennai vs. M/S Royal Sundaram General Insurance Company Limited, Chennai

In the result, the appeals of the assesse and Revenue are dealt as under:-

Bench: Shri Aby T Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita Nos.86, 87, 88, 89, 90, 91, 92 & 93 /Chny/2018 निर्धारण वर्ा /Assessment Years: 2008-09, 2009-10, 2010-11, 2011-12, 2011-12, 2012-13, 2013-14, 2014-15, M/S.Royal Sundaram General Dy. Commissioner Of Income Tax, Insurance Company Limited, Large Tax Payer Unit, Vishranthi Melaram Towers, Chennai. No.2/319, Rajiv Gandhi Salai(Omr), Karapakkam, Chennai-600 097. [Pan: Aabcr7106G] आयकर अपील सं./Ita Nos.491, 492, 493, 494, 495 & 496 /Chny/2018 निर्धारण वर्ा /Assessment Years: 2008-09, 2010-11, 2011-12, 2012-13, 2013-14, 2014-15 Dy. Commissioner Of Income Tax, M/S.Royal Sundaram General Large Tax Payer Unit, Insurance Company Limited, Chennai. Vishranthi Melaram Towers, No.2/319, Rajiv Gandhi Salai(Omr), Karapakkam, Chennai-600 097. [Pan: Aabcr7106G] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) : Shri Vikaram Vijayaraghavan, Advocate अपीलार्थी की ओर से/ Assessee By प्रत्यर्थी की ओर से /Revenue By : Shri A.Sanjay For Ms V.Pushpa, Sr.Standing Counsel For It Dept. सुनवाई की तारीख/Date Of Hearing : 15.10.2024 घोषणा की तारीख /Date Of Pronouncement : 08.01.2025

…ith the IRDA Regulations. We consequently find no error in the view ultimately taken by the Tribunal….” 13.5 We have also noted that the latest decision on the subject has been delivered by Hon’ble Bombay High Court in the Writ petition No.2271 of 2019 as at 422 ITR 248 in the case of General Insurance Corporation of India holding as under:- “…..11. So far as Issue No.1 above is concerned, the Petitioner submits that same stands concluded in its favour by virtue of the decision dated 11 October 2017 of the Mumbai Bench of the Tribunal in Dy. CIT V. ECGC (IT Appeal No. 7657 (Mum.) of 2014] and the Kolkata Bench…

DCIT Ltu 1, Chennai vs. M/S Royal Sundaram General Insurance Company Limited, Chennai

In the result, the appeals of the assesse and Revenue are dealt as under:-

Bench: Shri Aby T Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita Nos.86, 87, 88, 89, 90, 91, 92 & 93 /Chny/2018 निर्धारण वर्ा /Assessment Years: 2008-09, 2009-10, 2010-11, 2011-12, 2011-12, 2012-13, 2013-14, 2014-15, M/S.Royal Sundaram General Dy. Commissioner Of Income Tax, Insurance Company Limited, Large Tax Payer Unit, Vishranthi Melaram Towers, Chennai. No.2/319, Rajiv Gandhi Salai(Omr), Karapakkam, Chennai-600 097. [Pan: Aabcr7106G] आयकर अपील सं./Ita Nos.491, 492, 493, 494, 495 & 496 /Chny/2018 निर्धारण वर्ा /Assessment Years: 2008-09, 2010-11, 2011-12, 2012-13, 2013-14, 2014-15 Dy. Commissioner Of Income Tax, M/S.Royal Sundaram General Large Tax Payer Unit, Insurance Company Limited, Chennai. Vishranthi Melaram Towers, No.2/319, Rajiv Gandhi Salai(Omr), Karapakkam, Chennai-600 097. [Pan: Aabcr7106G] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) : Shri Vikaram Vijayaraghavan, Advocate अपीलार्थी की ओर से/ Assessee By प्रत्यर्थी की ओर से /Revenue By : Shri A.Sanjay For Ms V.Pushpa, Sr.Standing Counsel For It Dept. सुनवाई की तारीख/Date Of Hearing : 15.10.2024 घोषणा की तारीख /Date Of Pronouncement : 08.01.2025

…ith the IRDA Regulations. We consequently find no error in the view ultimately taken by the Tribunal….” 13.5 We have also noted that the latest decision on the subject has been delivered by Hon’ble Bombay High Court in the Writ petition No.2271 of 2019 as at 422 ITR 248 in the case of General Insurance Corporation of India holding as under:- “…..11. So far as Issue No.1 above is concerned, the Petitioner submits that same stands concluded in its favour by virtue of the decision dated 11 October 2017 of the Mumbai Bench of the Tribunal in Dy. CIT V. ECGC (IT Appeal No. 7657 (Mum.) of 2014] and the Kolkata Bench…