Oriental Insurance Co. Ltd. v. Assistant CIT

130 TTJ 388Income Tax Appellate Tribunal2010#8350 most cited
13

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2025.

Sections most often in play

Section 10(15)Section 10(35)Section 10(38)Section 115JBSection 143(3)Section 144BSection 147Section 148

Issues it is cited on

section 115qsection 115psection 10(23)section 10(15)section 191section 60interest under section 234csection 234dsection 199section 10(34)interest on securitiesddt

Judgments citing Oriental Insurance Co. Ltd. v. Assistant CIT

ASSISTANT COMMISSIONER OF INCOME TAX, C. R BUILDING vs. THE ORIENTAL INSURANCE CO LTD. , ASAF ALI

In the result, the cross objections filed by the assessee are partly allowed for statistical purposes

ITA 3218/DEL/2023[2018-19]Status: DisposedITAT Delhi09 Apr 2025AY 2018-19

Bench: Shri Satbeer Singh Godara & Shris.Rifaur Rahmanacit, Circle 10 (1), Vs. The Oriental Insurance Co. Ltd., New Delhi. A-25/27, Oriental House, Asaf Ali Road, Delhi Gate, New Delhi – 110 002. (Pan : Aaact0927R) Co No.152/Del/2023 (In Ita No.3218/Del/2023) (Assessment Year: 2018-19) The Oriental Insurance Co. Ltd., Vs. Acit, Circle 10 (1), A-25/27, Oriental House, New Delhi. Asaf Ali Road, Delhi Gate, New Delhi – 110 002. (Pan : Aaact0927R) (Appellant) (Respondent) Assessee By : Shri Tarandeep Singh, Advocate Shri Sandeep Yadav, Advocate Revenue By : Ms. Baljeet Kaur, Cit Dr Date Of Hearing : 23.01.2025 Date Of Order : 09.04.2025 O R D E R Per S. Rifaur Rahman: 1. The Revenue Has Filed Appeal Against The Order Of The Learned Commissioner Of Income Tax (Appeals)/National Faceless Appeal Centre

For Appellant: Shri Tarandeep Singh, AdvocateFor Respondent: Ms. Baljeet Kaur, CIT DR
Section 10Section 10(38)Section 115JSection 14ASection 44

…ule 5 of First Schedule. He submitted that it has been held by ITAT that while computing total income as per Rule 5 r.w. section 44, provisions of section 14A are not applicable and in this regard, he relied on the ITAT order for AYs 00-01 & 01-02 reported in 130 TTJ 388 (Del), copy of the same is placed at pages 25-26 of the paper book and relevant paras are 22 to 24. He submitted that this order has thereafter been followed consistently by ITAT in case of assessee. He further submitted that Hon’ble Delhi High Court vide order dated 04th of March 2020 reported in (2020) 118 taxmann.com 248 (Delhi) / 273 Taxman 4…

M/S LIFE INSURANCE CORPORATION OF INDIA,MUMBAI-400021 vs. DY COMMISSIONER OF INCOME TAX-3(2)(1), MUMBAI

Appeal is disposed off as being partly allowed

ITA 1074/MUM/2022[2012-13]Status: DisposedITAT Mumbai31 Jan 2023AY 2012-13
For Appellant: Shri Anish Thacker &
Section 143(3)Section 199Section 44

…n be made in the assessee in insurance business is squarely covered by the decision of Co-ordinate Bench in the case of Birla Sunlife Insurance Co. Ltd.(supra). The Co-ordinate Bench placing reliance on Oriental Insurance Co. Ltd vs. Assistant CIT reported as 130 TTJ 388 (Delhi) has held that no disallowance under section. 14A of the Act can be made in the case of company engaged in insurance business. The relevant extract of the findings of Tribunal on this issue are as under: ITA. Nos. 927,957, 983,1021, 1074 & 1339/Mum/2022 Assessment Years: 2012-2013, 2018-19 & 2019-20 ―9. We have carefully considered the s…

LIFE INSURANCE CORPORATION OF INDIA,MUMBAI vs. DY.COMMISSIONER OF INCOME TAX-3(2)(1), MUMBAI

In the result, appeal filed by the Revenue is dismissed

ITA 1714/MUM/2022[2013-14]Status: DisposedITAT Mumbai29 Sept 2022AY 2013-14

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blelife Insurance Corporation Of India V. Dcit – 3(2)(1) Central Office, F&A Department Room No. 608 3Rd Floor, West Wing Aayakar Bhavan, M.K. Road “Yogakshema” Jeevan Bima Marg Mumbai - 400020 Mumbai - 400021 Pan: Aaacl0582H Appellant Respondent Acit – 3(2)(1) V. M/S. Life Insurance Corporation Of India Central Office Room No. 674, 6Th Floor “Yogakshema” Jeevan Bima Marg Aayakar Bhavan, M.K. Road Nariman Point, Mumbai - 400021 Mumbai - 400020 Pan: Aaacl0582H Appellant Respondent

Section 115Section 44Section 80G

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI KULDIP SINGH, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER Life Insurance Corporation of India v. DCIT – 3(2)(1) Central Office, F&A Department Room No. 608 3rd Floor, West Wing Aayakar Bhavan, M.K. Road “Yogakshema” Jeevan Bima Marg Mumbai - 400020 Mumbai - 400021 PAN: AAACL0582H Appellant Respondent ACIT – 3(2)(1) v. M/s. Life Insurance Corporation of India Central Office Room No. 674, 6th Floor “Yogakshema” Jeevan Bima Marg Aayakar Bhavan, M.K. Road Nariman Point, Mumbai - 400021 Mumbai - 400020 PAN: AAACL0582H…

ACIT-3(2)(1), MUMBAI, MUMBAI vs. M/S LIFE INSURANCE CORPORATION OF INDIA, MUMBAI

In the result, appeal filed by the Revenue is dismissed

ITA 1710/MUM/2022[2013-2014]Status: DisposedITAT Mumbai29 Sept 2022AY 2013-2014

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blelife Insurance Corporation Of India V. Dcit – 3(2)(1) Central Office, F&A Department Room No. 608 3Rd Floor, West Wing Aayakar Bhavan, M.K. Road “Yogakshema” Jeevan Bima Marg Mumbai - 400020 Mumbai - 400021 Pan: Aaacl0582H Appellant Respondent Acit – 3(2)(1) V. M/S. Life Insurance Corporation Of India Central Office Room No. 674, 6Th Floor “Yogakshema” Jeevan Bima Marg Aayakar Bhavan, M.K. Road Nariman Point, Mumbai - 400021 Mumbai - 400020 Pan: Aaacl0582H Appellant Respondent

Section 115Section 44Section 80G

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI KULDIP SINGH, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER Life Insurance Corporation of India v. DCIT – 3(2)(1) Central Office, F&A Department Room No. 608 3rd Floor, West Wing Aayakar Bhavan, M.K. Road “Yogakshema” Jeevan Bima Marg Mumbai - 400020 Mumbai - 400021 PAN: AAACL0582H Appellant Respondent ACIT – 3(2)(1) v. M/s. Life Insurance Corporation of India Central Office Room No. 674, 6th Floor “Yogakshema” Jeevan Bima Marg Aayakar Bhavan, M.K. Road Nariman Point, Mumbai - 400021 Mumbai - 400020 PAN: AAACL0582H…

LIFE INSURANCE CORPORATION OF INDIA,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX-3(2)(1), MUMBAI

ITA 1671/MUM/2022[2010-2011]Status: DisposedITAT Mumbai29 Sept 2022AY 2010-2011

Bench: Shri Kuldip Singh & Shri S. Rifaur Rahmanassessment Year: 2010-11 M/S. Life Insurance Dcit 3(2)(1), Corporation Of India, Room No.608, Central Office, Aayakar Bhavan, F&A Department, Maharshi Karve Road, Vs. 3Rd Floor, West Wing, New Marine Lines, “Yogakshema”, Mumbai - 400020 Jeevan Bima Marg, Mumbai – 400 021 Pan: Aaacl0582H (Appellant) (Respondent) Assessment Year: 2010-11 Acit 3(2)(1), M/S. Life Insurance Room No.674, 6Th Floor, Corporation Of India, Aayakar Bhavan, Central Office, M.K. Road, Vs. Yogakshema, Mumbai - 400020 Jeevan Bima Marg, Nariman Point, Mumbai – 400 005 Pan: Aaacl0582H (Appellant) (Respondent)

For Appellant: Shri Anish Thacker, A.RFor Respondent: Shri Jagadish Jangid, D.R
Section 147Section 14ASection 250Section 44Section 80G

…insurance business is squarely covered by the decision of Co-ordinate Bench in the case of Birla Sunlife Insurance Co. Ltd.(supra). The Co-ordinate Bench placing reliance on the decision in the case of Oriental Insurance Co. Ltd vs. Assistant CIT reported as 130 TTJ 388 (Delhi) has held that no disallowance under section. 14A of the Act can be made in the case of company engaged in insurance business. The relevant extract of the findings of Tribunal on this issue are as under: “9. We have carefully considered the submissions of the rival parties and perused the material available on record. We find merit in the…

ASST. COMM OF INCOME TAX 3(2) (1) , MUMBAI vs. LIFE INSURANCE CORPORATION OF INDIA, MUMBAI

ITA 1566/MUM/2022[2010-11]Status: DisposedITAT Mumbai29 Sept 2022AY 2010-11

Bench: Shri Kuldip Singh & Shri S. Rifaur Rahmanassessment Year: 2010-11 M/S. Life Insurance Dcit 3(2)(1), Corporation Of India, Room No.608, Central Office, Aayakar Bhavan, F&A Department, Maharshi Karve Road, Vs. 3Rd Floor, West Wing, New Marine Lines, “Yogakshema”, Mumbai - 400020 Jeevan Bima Marg, Mumbai – 400 021 Pan: Aaacl0582H (Appellant) (Respondent) Assessment Year: 2010-11 Acit 3(2)(1), M/S. Life Insurance Room No.674, 6Th Floor, Corporation Of India, Aayakar Bhavan, Central Office, M.K. Road, Vs. Yogakshema, Mumbai - 400020 Jeevan Bima Marg, Nariman Point, Mumbai – 400 005 Pan: Aaacl0582H (Appellant) (Respondent)

For Appellant: Shri Anish Thacker, A.RFor Respondent: Shri Jagadish Jangid, D.R
Section 147Section 14ASection 250Section 44Section 80G

…insurance business is squarely covered by the decision of Co-ordinate Bench in the case of Birla Sunlife Insurance Co. Ltd.(supra). The Co-ordinate Bench placing reliance on the decision in the case of Oriental Insurance Co. Ltd vs. Assistant CIT reported as 130 TTJ 388 (Delhi) has held that no disallowance under section. 14A of the Act can be made in the case of company engaged in insurance business. The relevant extract of the findings of Tribunal on this issue are as under: “9. We have carefully considered the submissions of the rival parties and perused the material available on record. We find merit in the…

LIFE INSURANCE CORPORATION OF INDIA,MUMBAI vs. DY.COMMISSIONER OF INCOME TAX-3(2)(1), MUMBAI

In the result, appeal filed by the Revenue is dismissed

ITA 1717/MUM/2022[2017-18]Status: DisposedITAT Mumbai27 Sept 2022AY 2017-18

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 115Section 44Section 80G

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI KULDIP SINGH, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER ITA NOs. 1715, 1716 & 1717/MUM/2022 (A.Ys. 2014-15, 2016-17 & 2017-18) Life Insurance Corporation of India v. DCIT -3(2)(1) Central Office, F&A Department Room No. 608, Aayakar Bhavan Maharshi Karve Road 3rd Floor, West Wing New Marine Lines “Yogakshema”, Jeevan Bima Marg Churchgate, Mumbai-400020 Mumbai-400021 PAN: AAACL0582H (Appellant) (Respondent) ITA NOs. 1711, 1712 & 1713/MUM/2022 (A.Ys. 2014-15, 2017-18 & 2016-17) ACIT -3(2)(1) v. M/s. Life Insurance…

LIFE INSURANCE CORPORATION OF INDIA,MUMBAI vs. DY.COMMISSIONER OF INCOME TAX-3(2)(1), MUMBAI

In the result, appeal filed by the Revenue is dismissed

ITA 1716/MUM/2022[2016-17]Status: DisposedITAT Mumbai27 Sept 2022AY 2016-17

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 115Section 44Section 80G

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI KULDIP SINGH, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER ITA NOs. 1715, 1716 & 1717/MUM/2022 (A.Ys. 2014-15, 2016-17 & 2017-18) Life Insurance Corporation of India v. DCIT -3(2)(1) Central Office, F&A Department Room No. 608, Aayakar Bhavan Maharshi Karve Road 3rd Floor, West Wing New Marine Lines “Yogakshema”, Jeevan Bima Marg Churchgate, Mumbai-400020 Mumbai-400021 PAN: AAACL0582H (Appellant) (Respondent) ITA NOs. 1711, 1712 & 1713/MUM/2022 (A.Ys. 2014-15, 2017-18 & 2016-17) ACIT -3(2)(1) v. M/s. Life Insurance…

LIFE INSURANCE CORPORATION OF INDIA,MUMBAI vs. DY.COMMISSIONER OF INCOME TAX-3(2)(1), MUMBAI

In the result, appeal filed by the Revenue is dismissed

ITA 1715/MUM/2022[2014-15]Status: DisposedITAT Mumbai27 Sept 2022AY 2014-15

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 115Section 44Section 80G

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI KULDIP SINGH, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER ITA NOs. 1715, 1716 & 1717/MUM/2022 (A.Ys. 2014-15, 2016-17 & 2017-18) Life Insurance Corporation of India v. DCIT -3(2)(1) Central Office, F&A Department Room No. 608, Aayakar Bhavan Maharshi Karve Road 3rd Floor, West Wing New Marine Lines “Yogakshema”, Jeevan Bima Marg Churchgate, Mumbai-400020 Mumbai-400021 PAN: AAACL0582H (Appellant) (Respondent) ITA NOs. 1711, 1712 & 1713/MUM/2022 (A.Ys. 2014-15, 2017-18 & 2016-17) ACIT -3(2)(1) v. M/s. Life Insurance…

LIFE INSURANCE CORPORATION OF INDIA,MUMBAI vs. ACIT 3(2)(1), MUMBAI

In the result, appeal of the assessee is dismissed

ITA 3403/MUM/2019[2015-16]Status: DisposedITAT Mumbai08 Apr 2022AY 2015-16

Bench: Shri Pramod Kumar, Vice- & Shri Vikas Awasthyआअसं.2908/मुं/2019 ("न.व .2015-16) The Acit 3(2)(1), Room No.674, 6Th Floor, Aaykar Bhavan, M.K.Road, ...... अपीलाथ" /Appellant Mumbai – 400 020 बनाम Vs. Life Insurance Corporation Of India, Central Office, Yogakshema Jeevan Bima Marg, Nariman Point, Mumbai 400 005. Pan: Aaacl-0582-H ..... ""तवाद"/Respondent आअसं. 3403/मुं/2019 ("न. व .2015-16) Life Insurance Corporation Of India, Central Office, Yogakshema Jeevan Bima Marg, Nariman Point, Mumbai 400 005. ...... अपीलाथ" /Appellant Pan: Aaacl-0582-H बनाम Vs. The Acit 3(2)(1), Room No.674, 6Th Floor, Aaykar Bhavan, M.K.Road, ..... ""तवाद"/Respondent Mumbai – 400 02

For Appellant: Shri T. SankarFor Respondent: Shri Farrokh V. Irani
Section 10Section 10(34)Section 115OSection 14ASection 44

…by the decision of Co-ordinate Bench 9 ITA NO.3403/MUM/2019(A.Y. 2015-16) in the case of Birla Sunlife Insurance Co. Ltd.(supra). The Co-ordinate Bench placing reliance on the decision in the case of Oriental Insurance Co. Ltd vs. Assistant CIT reported as 130 TTJ 388 (Delhi) has held that no disallowance under section. 14A of the Act can be made in the case of company engaged in insurance business. The relevant extract of the findings of Tribunal on this issue are as under: “9. We have carefully considered the submissions of the rival parties and perused the material available on record. We find merit in the…

ACIT 3(2)(1), MUMBAI vs. LIFE INSURANCE CORPORATION OF INDIA, MUMBAI

In the result, appeal of the assessee is dismissed

ITA 2908/MUM/2019[2015-16]Status: DisposedITAT Mumbai08 Apr 2022AY 2015-16

Bench: Shri Pramod Kumar, Vice- & Shri Vikas Awasthyआअसं.2908/मुं/2019 ("न.व .2015-16) The Acit 3(2)(1), Room No.674, 6Th Floor, Aaykar Bhavan, M.K.Road, ...... अपीलाथ" /Appellant Mumbai – 400 020 बनाम Vs. Life Insurance Corporation Of India, Central Office, Yogakshema Jeevan Bima Marg, Nariman Point, Mumbai 400 005. Pan: Aaacl-0582-H ..... ""तवाद"/Respondent आअसं. 3403/मुं/2019 ("न. व .2015-16) Life Insurance Corporation Of India, Central Office, Yogakshema Jeevan Bima Marg, Nariman Point, Mumbai 400 005. ...... अपीलाथ" /Appellant Pan: Aaacl-0582-H बनाम Vs. The Acit 3(2)(1), Room No.674, 6Th Floor, Aaykar Bhavan, M.K.Road, ..... ""तवाद"/Respondent Mumbai – 400 02

For Appellant: Shri T. SankarFor Respondent: Shri Farrokh V. Irani
Section 10Section 10(34)Section 115OSection 14ASection 44

…by the decision of Co-ordinate Bench 9 ITA NO.3403/MUM/2019(A.Y. 2015-16) in the case of Birla Sunlife Insurance Co. Ltd.(supra). The Co-ordinate Bench placing reliance on the decision in the case of Oriental Insurance Co. Ltd vs. Assistant CIT reported as 130 TTJ 388 (Delhi) has held that no disallowance under section. 14A of the Act can be made in the case of company engaged in insurance business. The relevant extract of the findings of Tribunal on this issue are as under: “9. We have carefully considered the submissions of the rival parties and perused the material available on record. We find merit in the…

ACIT, NEW DELHI vs. M/S. ORIENTAL INSURANCE CO. LTD., NEW DELHI

In the result appeal filed by revenue stands dismissed

ITA 6025/DEL/2015[2007-08]Status: DisposedITAT Delhi27 Feb 2019AY 2007-08

Bench: Smt. Beena A Pillai & Shri Prashant Maharishiay: 2007-08

For Appellant: : Sh. Tarandeep Singh, AdvFor Respondent: Sh. J.K. Mishra, CIT, D.R
Section 115JSection 14A

…account of accrued interest on loans, debentures and bonds amounting to Rs.43,30,97,000/-. 2.1. It has been submitted that this issue is decided in favour of assessee by this Tribunal in assessee’s own case for assessment year 2000-01 and 2001-02 reported in 130 TTJ 388 which has been ITA 6025/Del/2015 AY- 2007-08 ACIT vs. Oriental Insurance Co. Ltd. subsequently upheld by Hon’ble Delhi High Court reported in (2002) 125 Taxman 1094. 2.2. There has been no material brought on record by authorities which could distinguish the view upheld by Hon’ble high Court in assessee’s own case. 3. We have perused the said de…

ACIT (LTU), NEW DELHI vs. MAX NEW YORK LIFE INSURANCE COMPANY LTD., NEW DELHI

In the result, the appeal is allowed for statistical purposes

ITA 1768/DEL/2011[2002-03]Status: DisposedITAT Delhi17 Oct 2017AY 2002-03

Bench: Shri R.S. Syal & Shri Sudhanshu Srivastavaassessment Year : 2002-03

For Appellant: Shri M.S. Syali, Sr. Advocate &For Respondent: Shri Amrendra Kumar, CIT, DR

…item of adjustment is not enshrined in such Explanation, the same cannot be read into the provision. In the like manner, reliance of the ld. Senior counsel on the decision of the Delhi Bench of the tribunal in Oriental Insurance Company Ltd. vs. ACIT (2010) 130 TTJ 388 (Del) is, again, misconceived inasmuch as in that case the Tribunal held that the provisions of section 14A cannot be applied in computing the income u/s 44 of the Act. We are unable to comprehend as to how the ratio decidendi laid down in these decisions supports the view point of the assessee for non-applicability of the transfer pricing provi…