PRINCIPAL COMMISSIONER OF INCOME TAX (LTU) v. THE ORIENTAL INSURANCE CO. LTD.

273 Taxmann 427High Court2020#8542 most cited
13

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2021 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 10(34)rule of consistencyprofits and gains of business or professiondisallowance u/s 14asection 44section 28section 14asection 40section 10income from other sourcesprescribedsection 143

Judgments citing PRINCIPAL COMMISSIONER OF INCOME TAX (LTU) v. THE ORIENTAL INSURANCE CO. LTD.

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

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’: NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER and SHRIS.RIFAUR RAHMAN, ACCOUNTANT MEMBER ACIT, 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, Advocat…

M/S SHRIRAM GENERAL INSURANCE COMPANY LTD.,E-8, EPIP RIICO INDUSTRIAL AREA, SITAPURA, JAIPUR vs. PCIT, JAIPUR-2, JAIPUR

In the result, this appeal of the assessee is allowed

ITA 260/JPR/2023[2018-19]Status: DisposedITAT Jaipur28 Jun 2023AY 2018-19

Bench: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri P.C. Parwal, CAFor Respondent: Shri Ajey Malik, CIT
Section 142(1)Section 143(2)Section 143(3)Section 14ASection 263Section 30Section 44

…mount is not an expenditure or allowance, the question of testing its eligibility for adjustment by reference to Rule 5 (a) to the First Schedule would not arise at all.” Further Hon’ble Delhi High Court in case of PCIT Vs. Oriental Insurance Co. Ltd. (2020) 273 Taxmann 427 (PB 29-31) at Para 9 of the order held as under:- 9. We have heard learned counsels and are of the view that no substantial question of law arises for our consideration. The Tribunal has interpreted s. 44 read with the first schedule and concluded that applicability of s. 14A is 12 Shriram General Insurance Co. Ltd., Jaipur. excluded in rel…

DCIT, CC 1(1), MUMBAI vs. EDELWEISS TOKIO LIFE INSURANCE LTD., MUMBAI

In the result appeal for AY 2014-15 filed by ld

ITA 2050/MUM/2022[2018-19]Status: DisposedITAT Mumbai31 Oct 2022AY 2018-19

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratishtha Bhavan, Old C.G.O. Bldg.,(Annexe0, Edelweiss House Off Cst Vs. M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old C.G.O. Edelweiss House Off Cst Bldg., (Annexe0, M.K.Road, Vs. Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old C.G.O. Bldg., (Annexe0, Vs. Edelweiss House Off Cst M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) 3 Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old Vs. Edelweiss House Off Cst C.G.O. Bldg.,(Annexe0, M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old Vs. Edelweiss House Off Cst C.G.O. Bldg.,(Annexe0, M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old Vs. Edelweiss House Off Cst C.G.O. Bldg.,(Annexe0, M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Pan No. Aacce2709H Assessee By : Shri. Ravikant Pathak Revenue By : Shri. Suresh Periasamy, (Cit Dr) Date Of Hearing: 11.10.2022. Date Of Pronouncement: 31.10.2022. O R D E R

For Appellant: Shri. Ravikant PathakFor Respondent: Shri. Suresh Periasamy, (CIT
Section 10Section 14Section 44

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI PAVAN KUMAR GADALE, JM Edelweiss Tokio Life DCIT-CC1(1), 9th Floor, 905, Insurance Ltd. Pratishtha Bhavan, Old C.G.O. Bldg.,(Annexe0, Edelweiss House off CST Vs. M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(e), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life DCIT-CC1(1), 9th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old C.G.O. Edelweiss House off CST Bldg., (Annexe0, M.K.Road, Vs. Mumbai-400 020 Rd, Kalina, Santacruz(e), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life DCIT-CC1(1), 9t…

DY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(1), MUMBAI vs. M/S EDELWEISS TOKIO LIFE INSURANCE LIMITED, MUMBAI

In the result appeal for AY 2014-15 filed by ld

ITA 2049/MUM/2022[2017-18]Status: DisposedITAT Mumbai31 Oct 2022AY 2017-18

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratishtha Bhavan, Old C.G.O. Bldg.,(Annexe0, Edelweiss House Off Cst Vs. M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old C.G.O. Edelweiss House Off Cst Bldg., (Annexe0, M.K.Road, Vs. Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old C.G.O. Bldg., (Annexe0, Vs. Edelweiss House Off Cst M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) 3 Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old Vs. Edelweiss House Off Cst C.G.O. Bldg.,(Annexe0, M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old Vs. Edelweiss House Off Cst C.G.O. Bldg.,(Annexe0, M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old Vs. Edelweiss House Off Cst C.G.O. Bldg.,(Annexe0, M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Pan No. Aacce2709H Assessee By : Shri. Ravikant Pathak Revenue By : Shri. Suresh Periasamy, (Cit Dr) Date Of Hearing: 11.10.2022. Date Of Pronouncement: 31.10.2022. O R D E R

For Appellant: Shri. Ravikant PathakFor Respondent: Shri. Suresh Periasamy, (CIT
Section 10Section 14Section 44

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI PAVAN KUMAR GADALE, JM Edelweiss Tokio Life DCIT-CC1(1), 9th Floor, 905, Insurance Ltd. Pratishtha Bhavan, Old C.G.O. Bldg.,(Annexe0, Edelweiss House off CST Vs. M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(e), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life DCIT-CC1(1), 9th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old C.G.O. Edelweiss House off CST Bldg., (Annexe0, M.K.Road, Vs. Mumbai-400 020 Rd, Kalina, Santacruz(e), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life DCIT-CC1(1), 9t…

DCIT, CC 1(1), MUMBAI vs. EDELWEISS TOKIO LIFE INSURANCE LTD., MUMBAI

In the result appeal for AY 2014-15 filed by ld

ITA 2048/MUM/2022[2016-17]Status: DisposedITAT Mumbai31 Oct 2022AY 2016-17

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratishtha Bhavan, Old C.G.O. Bldg.,(Annexe0, Edelweiss House Off Cst Vs. M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old C.G.O. Edelweiss House Off Cst Bldg., (Annexe0, M.K.Road, Vs. Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old C.G.O. Bldg., (Annexe0, Vs. Edelweiss House Off Cst M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) 3 Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old Vs. Edelweiss House Off Cst C.G.O. Bldg.,(Annexe0, M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old Vs. Edelweiss House Off Cst C.G.O. Bldg.,(Annexe0, M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old Vs. Edelweiss House Off Cst C.G.O. Bldg.,(Annexe0, M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Pan No. Aacce2709H Assessee By : Shri. Ravikant Pathak Revenue By : Shri. Suresh Periasamy, (Cit Dr) Date Of Hearing: 11.10.2022. Date Of Pronouncement: 31.10.2022. O R D E R

For Appellant: Shri. Ravikant PathakFor Respondent: Shri. Suresh Periasamy, (CIT
Section 10Section 14Section 44

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI PAVAN KUMAR GADALE, JM Edelweiss Tokio Life DCIT-CC1(1), 9th Floor, 905, Insurance Ltd. Pratishtha Bhavan, Old C.G.O. Bldg.,(Annexe0, Edelweiss House off CST Vs. M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(e), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life DCIT-CC1(1), 9th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old C.G.O. Edelweiss House off CST Bldg., (Annexe0, M.K.Road, Vs. Mumbai-400 020 Rd, Kalina, Santacruz(e), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life DCIT-CC1(1), 9t…

DCIT, CC 1(1), MUMBAI vs. EDELWEISS TOKIO LIFE INSURANCE LTD., MUMBAI

In the result appeal for AY 2014-15 filed by ld

ITA 2047/MUM/2022[2015-16]Status: DisposedITAT Mumbai31 Oct 2022AY 2015-16

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratishtha Bhavan, Old C.G.O. Bldg.,(Annexe0, Edelweiss House Off Cst Vs. M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old C.G.O. Edelweiss House Off Cst Bldg., (Annexe0, M.K.Road, Vs. Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old C.G.O. Bldg., (Annexe0, Vs. Edelweiss House Off Cst M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) 3 Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old Vs. Edelweiss House Off Cst C.G.O. Bldg.,(Annexe0, M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old Vs. Edelweiss House Off Cst C.G.O. Bldg.,(Annexe0, M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old Vs. Edelweiss House Off Cst C.G.O. Bldg.,(Annexe0, M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Pan No. Aacce2709H Assessee By : Shri. Ravikant Pathak Revenue By : Shri. Suresh Periasamy, (Cit Dr) Date Of Hearing: 11.10.2022. Date Of Pronouncement: 31.10.2022. O R D E R

For Appellant: Shri. Ravikant PathakFor Respondent: Shri. Suresh Periasamy, (CIT
Section 10Section 14Section 44

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI PAVAN KUMAR GADALE, JM Edelweiss Tokio Life DCIT-CC1(1), 9th Floor, 905, Insurance Ltd. Pratishtha Bhavan, Old C.G.O. Bldg.,(Annexe0, Edelweiss House off CST Vs. M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(e), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life DCIT-CC1(1), 9th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old C.G.O. Edelweiss House off CST Bldg., (Annexe0, M.K.Road, Vs. Mumbai-400 020 Rd, Kalina, Santacruz(e), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life DCIT-CC1(1), 9t…

DCIT, CC 1(1), MUMBAI vs. EDELWEISS TOKIO LIFE INSURANCE LTD., MUMBAI

In the result appeal for AY 2014-15 filed by ld

ITA 2046/MUM/2022[2014-15]Status: DisposedITAT Mumbai31 Oct 2022AY 2014-15

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratishtha Bhavan, Old C.G.O. Bldg.,(Annexe0, Edelweiss House Off Cst Vs. M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old C.G.O. Edelweiss House Off Cst Bldg., (Annexe0, M.K.Road, Vs. Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old C.G.O. Bldg., (Annexe0, Vs. Edelweiss House Off Cst M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) 3 Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old Vs. Edelweiss House Off Cst C.G.O. Bldg.,(Annexe0, M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old Vs. Edelweiss House Off Cst C.G.O. Bldg.,(Annexe0, M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life Dcit-Cc1(1), 9Th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old Vs. Edelweiss House Off Cst C.G.O. Bldg.,(Annexe0, M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(E), Mumbai-400 098 (Appellant) (Respondent) Pan No. Aacce2709H Assessee By : Shri. Ravikant Pathak Revenue By : Shri. Suresh Periasamy, (Cit Dr) Date Of Hearing: 11.10.2022. Date Of Pronouncement: 31.10.2022. O R D E R

For Appellant: Shri. Ravikant PathakFor Respondent: Shri. Suresh Periasamy, (CIT
Section 10Section 14Section 44

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI PAVAN KUMAR GADALE, JM Edelweiss Tokio Life DCIT-CC1(1), 9th Floor, 905, Insurance Ltd. Pratishtha Bhavan, Old C.G.O. Bldg.,(Annexe0, Edelweiss House off CST Vs. M.K.Road, Mumbai-400 020 Rd, Kalina, Santacruz(e), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life DCIT-CC1(1), 9th Floor, 905, Insurance Ltd. Pratistha Bhavan, Old C.G.O. Edelweiss House off CST Bldg., (Annexe0, M.K.Road, Vs. Mumbai-400 020 Rd, Kalina, Santacruz(e), Mumbai-400 098 (Appellant) (Respondent) Edelweiss Tokio Life DCIT-CC1(1), 9t…

PR COMMISSIONER OF INCOME TAX-2 vs. M/S EXIDE LIFE INSURANCE COMPANY LTD

The appeals stand disposed of as indicated

ITA/309/2021HC Karnataka15 Mar 2022

Bench: S.SUJATHA,SHIVASHANKAR AMARANNAVAR

Section 260

…nt- assessee would point out that the issue involved herein is no more res integra in view of the decision taken by the Hon’ble High Court of Delhi in the case of Principal Commissioner of Income Tax vs. Oriental Insurance Co.Ltd. reported in (2020) 273 Taxmann 427 (Delhi) as well as in the decision of this Court in the very same respondent-assessee’s case in ITA No.112/2020 and allied matter (decided on 31.08.2021). Accordingly, seeks to answer the substantial question of law Nos. 1 and 2 in favour of respondent-assessee and against the revenue. Further, he submitted that the substantial q…

PR COMMISSIONER OF INCOME TAX-2 vs. M/S EXIDE LIFE INSURANCE COMPANY LTD

The appeals stand disposed of as indicated

ITA/311/2021HC Karnataka15 Mar 2022

Bench: S.SUJATHA,SHIVASHANKAR AMARANNAVAR

Section 260

…nt- assessee would point out that the issue involved herein is no more res integra in view of the decision taken by the Hon’ble High Court of Delhi in the case of Principal Commissioner of Income Tax vs. Oriental Insurance Co.Ltd. reported in (2020) 273 Taxmann 427 (Delhi) as well as in the decision of this Court in the very same respondent-assessee’s case in ITA No.112/2020 and allied matter (decided on 31.08.2021). Accordingly, seeks to answer the substantial question of law Nos. 1 and 2 in favour of respondent-assessee and against the revenue. Further, he submitted that the substantial q…

PR.COMMISSIONER OF INCOME TAX-2 vs. M/S EXIDE LIFE INSURANCE COMPANY LTD

The appeals stand disposed of as indicated

ITA/294/2021HC Karnataka15 Mar 2022

Bench: S.SUJATHA,SHIVASHANKAR AMARANNAVAR

Section 260

…nt- assessee would point out that the issue involved herein is no more res integra in view of the decision taken by the Hon’ble High Court of Delhi in the case of Principal Commissioner of Income Tax vs. Oriental Insurance Co.Ltd. reported in (2020) 273 Taxmann 427 (Delhi) as well as in the decision of this Court in the very same respondent-assessee’s case in ITA No.112/2020 and allied matter (decided on 31.08.2021). Accordingly, seeks to answer the substantial question of law Nos. 1 and 2 in favour of respondent-assessee and against the revenue. Further, he submitted that the substantial q…

PR COMMISSIONER OF INCOME TAX-2 vs. M/S EXIDE LIFE INSURANCE COMPANY LTD

The appeals stand disposed of as indicated

ITA/310/2021HC Karnataka15 Mar 2022

Bench: S.SUJATHA,SHIVASHANKAR AMARANNAVAR

Section 260

…nt- assessee would point out that the issue involved herein is no more res integra in view of the decision taken by the Hon’ble High Court of Delhi in the case of Principal Commissioner of Income Tax vs. Oriental Insurance Co.Ltd. reported in (2020) 273 Taxmann 427 (Delhi) as well as in the decision of this Court in the very same respondent-assessee’s case in ITA No.112/2020 and allied matter (decided on 31.08.2021). Accordingly, seeks to answer the substantial question of law Nos. 1 and 2 in favour of respondent-assessee and against the revenue. Further, he submitted that the substantial q…

PR COMMISSIONER OF INCOME TAX-2 vs. M/S EXIDE LIFE INSURANCE COMPANY LTD

The appeals stand disposed of as indicated

ITA/308/2021HC Karnataka15 Mar 2022

Bench: S.SUJATHA,SHIVASHANKAR AMARANNAVAR

Section 260

…nt- assessee would point out that the issue involved herein is no more res integra in view of the decision taken by the Hon’ble High Court of Delhi in the case of Principal Commissioner of Income Tax vs. Oriental Insurance Co.Ltd. reported in (2020) 273 Taxmann 427 (Delhi) as well as in the decision of this Court in the very same respondent-assessee’s case in ITA No.112/2020 and allied matter (decided on 31.08.2021). Accordingly, seeks to answer the substantial question of law Nos. 1 and 2 in favour of respondent-assessee and against the revenue. Further, he submitted that the substantial q…

DCIT, CIRCLE- 1, LTU, NEW DELHI vs. THE ORIENTAL INSURANCE CO. LTD., NEW DELHI

In the result, the order passed by the tribunal dated 09

ITA 5834/DEL/2018[2015-16]Status: DisposedITAT Delhi24 Sept 2021AY 2015-16

Bench: Shri R.K. Panda & Shri Vijay Pal Raoassessment Year: 2015-16 Dcit, Vs The Oriental Insurance Co. Ltd., Circle-1, Ltu, A-25/27, Asaf Ali Road, New Delhi. New Delhi. Pan: Aaact0627R (Appellant) (Respondent) Assessee By : Shri Tarandeep Singh, Ca & Shri Pulkit Verma, Advocate Revenue By : Shri H.K. Chaudhary, Cit, Dr Date Of Hearing : 20.09.2021 Date Of Pronouncement : 24.09.2021 Order Per R.K. Panda, Am: This Appeal Filed By The Revenue Is Directed Against The Order Dated 29Th June, 2018 Of The Cit(A)-22, New Delhi Relating To Assessment Year 2015-16. 2. Ground Of Appeal No.1 Raised By The Revenue Reads As Under:- “1. On The Facts & The Circumstances Of The Case & In Law, Ld. Cit (A) Has Erred In Deleting The Addition Of Rs.25,85,81,755/- Made By The Ao U/S 14A Of The I.T. Act.” 3. Facts Of The Case, In Brief, Are That The Assessee Is A Public Sector Undertaking Of Government Of India & Is In The Business Of Non-Life Insurance. It Filed Its Return Of Income Declaring Total Income Under Normal Provisions Of The Income-Tax Act At A Loss Of Rs.186,97,30,289/- & Book Profit U/S 115Jb I.E., Mat Scheme Of Rs.565,63,58,876/-. During The Course Of Assessment Proceedings, The Ao Noted That The Assessee Has Claimed The Following Income As Exempt:- S. No. Particulars Amount ( □) 1. Interest On Tax Free Public Sector Bonds Exempt Under 4,59,58,525/- Section 10 (15) (Iv) (H) Of The Act 2,04,22,38,227/- 2. Dividend Exempt U/S 10(34) Of The Income Tax Act, 1961 Total 2,08,81,96,752/-

For Appellant: Shri Tarandeep Singh, CA &For Respondent: Shri H.K. Chaudhary, CIT, DR
Section 10Section 10(34)Section 115JSection 14ASection 44

…stands decided in favour of the assessee by the consistent decisions of the Tribunal from A.Y. 2000-01 onwards in its own case and the decision of the Hon’ble Delhi High Court in assessee’s own case i.e., PCIT vs. Oriental Insurance Company Ltd., reported in 273 Taxmann 427. He accordingly submitted that this being a covered matter in favour of the assessee, the ground raised by the Revenue should be dismissed. 9. We have heard the rival arguments made by both the sides, perused the orders of the AO and the CIT(A) and the paper book filed on behalf of the assessee. We have also considered the various decisions…