Sandvik Asia Ltd. v. CIT

280 ITR 331High Court2006#7373 most cited

What is Sandvik Asia Ltd. v. CIT authority for?

The High Court held that a CBDT circular, if beneficial to the assessee and not withdrawn, is binding on the Assessing Officer and other revenue authorities. This reiterates the principle that such circulars have statutory force and must be followed.

15

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2010 to 2025.

Also referred to as

Sandvik Asia Ltd. v. CIT · CIT v. Milk Food Ltd. · CBDT circular · binding on AO · beneficial to assessee · statutory force

Sections most often in play

Section 143(3)Section 147Section 154Section 243Section 244Section 244ASection 244(1A)Section 10(38)

Issues it is cited on

section 243section 37binterest on interestinterest on refundsection 111asection 111interest on securitiessection 199section 244asection 30section 10(38)section 45

Judgments citing Sandvik Asia Ltd. v. CIT

M/S. the Oriental Insurance Co. Ltd., New Delhi vs. ACIT, New Delhi

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

ITA 2492/DEL/2017[2006-07]Status: DisposedITAT Delhi14 Aug 2025AY 2006-07

Bench: Shri Vikas Awasthy & Shri M. Balaganeshm/S. The Oriental Insurance Co. Ltd, Vs. The Acit, A 25/27, Asaf Ali Road, New Delhi- Circle-16(1), 110003 New Delhi (Appellant) (Respondent) Pan: Aaact0627R Assessee By : Shri Tarandeep Singh, Adv Revenue By: Shri Mahesh Kumar, Cit (Dr) Date Of Hearing 19/05/2025 Date Of Pronouncement 14/08/2025

For Appellant: Shri Tarandeep Singh, AdvFor Respondent: Shri Mahesh Kumar, CIT (DR)
Section 10(38)Section 115JSection 143(3)Section 16Section 44Section 45Section 4A

…n and is beneficial to the Assessee, it would be binding on the AO and other Revenue authorities. The Court was merely reiterating what has been held in a large number of cases including Navnitlal C. Zaveri v. K.K. Sen (supra) and CIT v. Milk Food Ltd. [2006] 280 ITR 331 (Del). 44. The ITAT itself has taken a consistent stand that the taxability of income in the case of insurance companies is not on commercial profits but on such profits as are computed in accordance with the provisions of the IA, subject to the permissible adjustments under the Act. In other words, the taxability of profits in the hands of the i…

The Federal Bank Ltd, Kochi vs. ACIT, Kochi

In the result, the appeal of the assessee stands partly allowed

ITA 533/COCH/2023[2020-21]Status: DisposedITAT Cochin25 Jun 2025AY 2020-21

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

For Appellant: Shri K. Gopi, CAFor Respondent: Shri Sundarasan S., CIT-DR
Section 143(3)Section 154Section 244A

…light of this statutory provision it appears that the AO had not taken cognizance of the latest provisions of law while disposing the application filed by the appellant. The decision of the Hon'ble Supreme Court in the case of Sandvik Asia Ltd. v. CIT [2006] 280 ITR 331 (SC) has no application to the facts of the case. Therefore, we are of the considered opinion that the matter requires remand. The AO is directed to dispose of the application filed by the appellant u/s. 154 of the Act taking into consideration the statutory provisions of section 244(1A) of the Act, which are undoubtedly applicable, since The Fe…

The Federal Bank Ltd, Kochi vs. ACIT, Kochi

In the result, the appeal of the assessee stands partly allowed

ITA 532/COCH/2023[2010-11]Status: DisposedITAT Cochin25 Jun 2025AY 2010-11

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

For Appellant: Shri K. Gopi, CAFor Respondent: Shri Sundarasan S., CIT-DR
Section 143(3)Section 154Section 244A

…light of this statutory provision it appears that the AO had not taken cognizance of the latest provisions of law while disposing the application filed by the appellant. The decision of the Hon'ble Supreme Court in the case of Sandvik Asia Ltd. v. CIT [2006] 280 ITR 331 (SC) has no application to the facts of the case. Therefore, we are of the considered opinion that the matter requires remand. The AO is directed to dispose of the application filed by the appellant u/s. 154 of the Act taking into consideration the statutory provisions of section 244(1A) of the Act, which are undoubtedly applicable, since The Fe…

The Federal Bank Ltd, Kochi vs. ACIT, Kochi

In the result, the appeal of the assessee stands partly allowed

ITA 531/COCH/2023[2007-08]Status: DisposedITAT Cochin25 Jun 2025AY 2007-08

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

For Appellant: Shri K. Gopi, CAFor Respondent: Shri Sundarasan S., CIT-DR
Section 143(3)Section 154Section 244A

…light of this statutory provision it appears that the AO had not taken cognizance of the latest provisions of law while disposing the application filed by the appellant. The decision of the Hon'ble Supreme Court in the case of Sandvik Asia Ltd. v. CIT [2006] 280 ITR 331 (SC) has no application to the facts of the case. Therefore, we are of the considered opinion that the matter requires remand. The AO is directed to dispose of the application filed by the appellant u/s. 154 of the Act taking into consideration the statutory provisions of section 244(1A) of the Act, which are undoubtedly applicable, since The Fe…

The Federal Bank Ltd, Kochi vs. ACIT, Kochi

In the result, the appeal of the assessee stands partly allowed

ITA 530/COCH/2023[2001-02]Status: DisposedITAT Cochin25 Jun 2025AY 2001-02

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

For Appellant: Shri K. Gopi, CAFor Respondent: Shri Sundarasan S., CIT-DR
Section 143(3)Section 154Section 244A

…light of this statutory provision it appears that the AO had not taken cognizance of the latest provisions of law while disposing the application filed by the appellant. The decision of the Hon'ble Supreme Court in the case of Sandvik Asia Ltd. v. CIT [2006] 280 ITR 331 (SC) has no application to the facts of the case. Therefore, we are of the considered opinion that the matter requires remand. The AO is directed to dispose of the application filed by the appellant u/s. 154 of the Act taking into consideration the statutory provisions of section 244(1A) of the Act, which are undoubtedly applicable, since The Fe…

The Federal Bank Ltd., Kochi vs. ACIT, Kochi

In the result, the appeal of the assessee stands partly allowed

ITA 529/COCH/2023[2000-01]Status: DisposedITAT Cochin25 Jun 2025AY 2000-01

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

For Appellant: Shri K. Gopi, CAFor Respondent: Shri Sundarasan S., CIT-DR
Section 143(3)Section 154Section 244A

…light of this statutory provision it appears that the AO had not taken cognizance of the latest provisions of law while disposing the application filed by the appellant. The decision of the Hon'ble Supreme Court in the case of Sandvik Asia Ltd. v. CIT [2006] 280 ITR 331 (SC) has no application to the facts of the case. Therefore, we are of the considered opinion that the matter requires remand. The AO is directed to dispose of the application filed by the appellant u/s. 154 of the Act taking into consideration the statutory provisions of section 244(1A) of the Act, which are undoubtedly applicable, since The Fe…

The Oriental Insurance Co. Ltd., New Delhi vs. DCIT, Circle- 1, Ltu, New Delhi

ITA 1952/DEL/2018[2013-14]Status: DisposedITAT Delhi29 May 2023AY 2013-14

Bench: Sh. Anil Chaturvedi & Sh.Anubhav Sharmaita No. 1952/Del/2018, A.Y. 2013-14 M/S. The Oriental Insurance Co. Vs. Dcit, Ltd. Circle-1, Ltu, A-25/27, Asaf Ali Road, New Delhi New Delhi- 110002 Pan :Aaact0627R

Section 10(38)Section 111ASection 115JSection 143(3)Section 14ASection 32

…n and is beneficial to the Assessee, it would be binding on the AO and other Revenue authorities. The Court was merely reiterating what has been held in a large number of cases including Navnitlal C. Zaveri v. K.K. Sen (supra) and CIT v. Milk Food Ltd. [2006] 280 ITR 331 (Del). 44. The ITAT itself has taken a consistent stand that the taxability of income in the case of insurance companies is not on commercial profits but on such profits as are computed in accordance with the provisions of the IA, subject to the permissible adjustments under the Act. In other words, the taxability of profits in the hands of the i…

DCIT, Circle- 1, Ltu, New Delhi vs. The Oriental Insurance Co. Ltd., New Delhi

ITA 1750/DEL/2018[2013-14]Status: DisposedITAT Delhi29 May 2023AY 2013-14

Bench: Sh. Anil Chaturvedi & Sh.Anubhav Sharmaita No. 1952/Del/2018, A.Y. 2013-14 M/S. The Oriental Insurance Co. Vs. Dcit, Ltd. Circle-1, Ltu, A-25/27, Asaf Ali Road, New Delhi New Delhi- 110002 Pan :Aaact0627R

Section 10(38)Section 111ASection 115JSection 143(3)Section 14ASection 32

…n and is beneficial to the Assessee, it would be binding on the AO and other Revenue authorities. The Court was merely reiterating what has been held in a large number of cases including Navnitlal C. Zaveri v. K.K. Sen (supra) and CIT v. Milk Food Ltd. [2006] 280 ITR 331 (Del). 44. The ITAT itself has taken a consistent stand that the taxability of income in the case of insurance companies is not on commercial profits but on such profits as are computed in accordance with the provisions of the IA, subject to the permissible adjustments under the Act. In other words, the taxability of profits in the hands of the i…

M/S the Oriental Inssurance Co.Ltd., New Delhi vs. DCIT, New Delhi

ITA 200/DEL/2016[2011-12]Status: DisposedITAT Delhi22 Nov 2022AY 2011-12

Bench: Shri Anil Chaturvedi & Shri Anubhav Sharmam/S. The Oriental Insurance Co. Ltd, Vs. The Dcit, A 25/27, Asaf Ali Road, Ltu, New Delhi New Delhi-110002 (Appellant) (Respondent) Pan: Aaact0627R

For Appellant: Shri Tarandeep Singh, AdvFor Respondent: Ms. Sarita Kumari, CIT DR
Section 10(38)Section 115Section 115JSection 143(1)Section 143(2)Section 143(3)Section 14ASection 28Section 44

…n and is beneficial to the Assessee, it would be binding on the AO and other Revenue authorities. The Court was merely reiterating what has been held in a large number of cases including Navnitlal C. Zaveri v. K.K. Sen (supra) and CIT v. Milk Food Ltd. [2006] 280 ITR 331 (Del). 44. The ITAT itself has taken a consistent stand that the taxability of income in the case of insurance companies is not on commercial profits but on such profits as are computed in accordance with the provisions of the IA, subject to the permissible adjustments under the Act. In other words, the taxability of profits in the hands of the i…

Kavita Agarwal, New Delhi vs. ACIT, Central Circle- 19, New Delhi

ITA 5858/DEL/2018[2011-12]Status: DisposedITAT Delhi30 Jun 2021AY 2011-12
Section 10(38)Section 111ASection 112Section 115JSection 143(1)Section 143(3)Section 14ASection 32

…een withdrawn and is beneficial to the Assessee, it would be binding on the AO and other Revenue authorities. The Court was merely reiterating what has been held in a large number of cases including Navnitlal C. Zaveri (supra) and CIT v. Milk Food Ltd. [2006] 280 ITR 331/152 Taxman 50 (Delhi). M/s The Oriental Insurance Co. Ltd. vs. DCIT 44. The ITAT itself has taken a consistent stand that the taxability of income in the case of insurance companies is not on commercial profits but on such profits as are computed in accordance with the provisions of the IA, subject to the permissible adjustments under the Act.…

M/S the Oriental Insurance Co. Ltd., New Delhi vs. DCIT, New Delhi

ITA 4535/DEL/2016[2010-11]Status: DisposedITAT Delhi30 Jun 2021AY 2010-11
Section 10(38)Section 111ASection 112Section 115JSection 143(1)Section 143(3)Section 14ASection 32

…een withdrawn and is beneficial to the Assessee, it would be binding on the AO and other Revenue authorities. The Court was merely reiterating what has been held in a large number of cases including Navnitlal C. Zaveri (supra) and CIT v. Milk Food Ltd. [2006] 280 ITR 331/152 Taxman 50 (Delhi). M/s The Oriental Insurance Co. Ltd. vs. DCIT 44. The ITAT itself has taken a consistent stand that the taxability of income in the case of insurance companies is not on commercial profits but on such profits as are computed in accordance with the provisions of the IA, subject to the permissible adjustments under the Act.…

DCIT (Ltu), New Delhi vs. M/S. the Oriental Insurance Co. Ltd., New Delhi

In the result, the grounds raised by the Revenue are dismissed

ITA 6280/DEL/2016[2009-10]Status: DisposedITAT Delhi31 Aug 2020AY 2009-10

Bench: Shri R.K. Panda & Shri Amit Shukla

For Appellant: Shri Tarandeep Singh AdvocateFor Respondent: Shri H.K. Choudhary CIT-DR
Section 10(38)Section 115JSection 14Section 143(3)Section 14ASection 44

…een withdrawn and is beneficial to the Assessee, it would be binding on the AO and other Revenue authorities. The Court was merely reiterating what has been held in a large number of cases including Navnitlal C. Zaveri (supra) and CIT v. Milk Food Ltd. [2006] 280 ITR 331/152 Taxman 50 (Delhi). 44. The ITAT itself has taken a consistent stand that the taxability of income in the case of insurance companies is not on commercial profits but on such profits as are computed in accordance with the provisions of the IA, subject to the permissible adjustments under the Act. In other words, the taxability of profits in th…

M/S the Oriental Insurance Co. Ltd., New Delhi vs. DCIT (Ltu), New Delhi

In the result, the grounds raised by the Revenue are dismissed

ITA 6133/DEL/2016[2009-10]Status: DisposedITAT Delhi31 Aug 2020AY 2009-10

Bench: Shri R.K. Panda & Shri Amit Shukla

For Appellant: Shri Tarandeep Singh AdvocateFor Respondent: Shri H.K. Choudhary CIT-DR
Section 10(38)Section 115JSection 14Section 143(3)Section 14ASection 44

…een withdrawn and is beneficial to the Assessee, it would be binding on the AO and other Revenue authorities. The Court was merely reiterating what has been held in a large number of cases including Navnitlal C. Zaveri (supra) and CIT v. Milk Food Ltd. [2006] 280 ITR 331/152 Taxman 50 (Delhi). 44. The ITAT itself has taken a consistent stand that the taxability of income in the case of insurance companies is not on commercial profits but on such profits as are computed in accordance with the provisions of the IA, subject to the permissible adjustments under the Act. In other words, the taxability of profits in th…

Ansal Properties & Industries Ltd vs. Commissioner of Income Tax

ITA - 183 / 2008HC Delhi19 Nov 2010

…ITA No.183/2008 Page 1 of 31 UNREPORTED * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA No.183/2008 M/S. ANSAL PROPERTIES & INDUSTRIES LTD. PRESENTLY KNOWN AS (M/S. ANSAL PROPERTIES & INFRASTRUCTURE LTD.) ..... Appellant Through: Mr. Satyen Sethi and Mr. Johnson Bara, Advocates. versus COMMISSIONER OF INCOME TAX (CENTRAL-I) .... Respondents Through: Ms. Prem Lata Bansal with Ms. Anshul Sharma and Mr. Paras Chaudhry, Advocates. % D…

(M/S. Ansal Properties & Infrastructure Ltd.) vs. Commissioner of Income Tax (Central-I)

ITA/183/2008HC Delhi19 Nov 2010

…ITA No.183/2008 Page 1 of 31 UNREPORTED * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA No.183/2008 M/S. ANSAL PROPERTIES & INDUSTRIES LTD. PRESENTLY KNOWN AS (M/S. ANSAL PROPERTIES & INFRASTRUCTURE LTD.) ..... Appellant Through: Mr. Satyen Sethi and Mr. Johnson Bara, Advocates. versus COMMISSIONER OF INCOME TAX (CENTRAL-I) .... Respondents Through: Ms. Prem Lata Bansal with Ms. Anshul Sharma and Mr. Paras Chaudhry, Advocates. % D…

Sandvik Asia Ltd. v. CIT (280 ITR 331) — Cited in 15 Judgments | BharatTax