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

depreciation @ 60% in similar situations. As the facts of the case are identical, we do not find any need to interfere with the findings of the Ld. First Appellate Authority. Accordingly, the decision of Ld. CIT(A) is sustained and grounds of appeal raised by the appellate revenue is dismissed. 12.0 The next issue raised by the revenue vide

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

depreciation @ 60% in similar situations. As the facts of the case are identical, we do not find any need to interfere with the findings of the Ld. First Appellate Authority. Accordingly, the decision of Ld. CIT(A) is sustained and grounds of appeal raised by the appellate revenue is dismissed. 12.0 The next issue raised by the revenue vide

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

depreciation @ 60% in similar situations. As the facts of the case are identical, we do not find any need to interfere with the findings of the Ld. First Appellate Authority. Accordingly, the decision of Ld. CIT(A) is sustained and grounds of appeal raised by the appellate revenue is dismissed. 12.0 The next issue raised by the revenue vide

DCIT-2(1), , CHENNAI vs. THE INDIA CEMENTS LTD,, CHENNAI

In the result, the cross objection filed by the assessee is partly allowed for statistical purpose

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 2145 & 2210/Chny/2017, Ita 737/Chny/2018 िनधा"रण वष" / Assessment Years: 2012-13, 2008-09 & 2013-14 The Deputy Commissioner Of M/S. The India Cements Ltd., Income Tax, V. No.93, Coromandel Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No: 2038/Chny/2017 िनधा"रण वष" / Assessment Year: 2009-10 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & Co No.: 76/Chny/2018 (In Ita No.737/Chny/2018) िनधा"रण वष" / Assessment Year: 2013-14 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent)

depreciation claim on asset and added back to total income without understanding the fact that entries passed in the books of accounts is not determinative to compute correct income of the assessee. The CIT(A) after considering relevant facts and also by following the decision of ITAT, Chennai in assessee’s own case in ITA No.1339 to 1342/Mds/2010 for assessment

THE INDIA CEMENTS LTD.,CHENNAI vs. DCIT CORPORATE CIRCLE 2(1), CHENNAI

In the result, the cross objection filed by the assessee is partly allowed for statistical purpose

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 2145 & 2210/Chny/2017, Ita 737/Chny/2018 िनधा"रण वष" / Assessment Years: 2012-13, 2008-09 & 2013-14 The Deputy Commissioner Of M/S. The India Cements Ltd., Income Tax, V. No.93, Coromandel Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No: 2038/Chny/2017 िनधा"रण वष" / Assessment Year: 2009-10 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & Co No.: 76/Chny/2018 (In Ita No.737/Chny/2018) िनधा"रण वष" / Assessment Year: 2013-14 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent)

depreciation claim on asset and added back to total income without understanding the fact that entries passed in the books of accounts is not determinative to compute correct income of the assessee. The CIT(A) after considering relevant facts and also by following the decision of ITAT, Chennai in assessee’s own case in ITA No.1339 to 1342/Mds/2010 for assessment

DCIT, CORPORATE CIRCLE -2(1), CHENNAI vs. THE INDIA CEMENTS LTD., CHENNAI

In the result, the cross objection filed by the assessee is partly allowed for statistical purpose

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 2145 & 2210/Chny/2017, Ita 737/Chny/2018 िनधा"रण वष" / Assessment Years: 2012-13, 2008-09 & 2013-14 The Deputy Commissioner Of M/S. The India Cements Ltd., Income Tax, V. No.93, Coromandel Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No: 2038/Chny/2017 िनधा"रण वष" / Assessment Year: 2009-10 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & Co No.: 76/Chny/2018 (In Ita No.737/Chny/2018) िनधा"रण वष" / Assessment Year: 2013-14 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent)

depreciation claim on asset and added back to total income without understanding the fact that entries passed in the books of accounts is not determinative to compute correct income of the assessee. The CIT(A) after considering relevant facts and also by following the decision of ITAT, Chennai in assessee’s own case in ITA No.1339 to 1342/Mds/2010 for assessment

DCIT CORPORATE CIRCLE 2(1), CHENNAI vs. THE INDIA CEMENTS LTD., CHENNAI

In the result, the cross objection filed by the assessee is partly allowed for statistical purpose

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 2145 & 2210/Chny/2017, Ita 737/Chny/2018 िनधा"रण वष" / Assessment Years: 2012-13, 2008-09 & 2013-14 The Deputy Commissioner Of M/S. The India Cements Ltd., Income Tax, V. No.93, Coromandel Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No: 2038/Chny/2017 िनधा"रण वष" / Assessment Year: 2009-10 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & Co No.: 76/Chny/2018 (In Ita No.737/Chny/2018) िनधा"रण वष" / Assessment Year: 2013-14 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent)

depreciation claim on asset and added back to total income without understanding the fact that entries passed in the books of accounts is not determinative to compute correct income of the assessee. The CIT(A) after considering relevant facts and also by following the decision of ITAT, Chennai in assessee’s own case in ITA No.1339 to 1342/Mds/2010 for assessment

ASSISTANT COMMISSIONER OF INCOME TAX, NUNGAMBAKKAM vs. R K M POWERGEN PRIVATE LIMITED, T NAGAR

In the result the appeal of the revenue for the both the

depreciation and cannot constitute income in the hands of the appellant. Even according to the TP order the profit margin of MIPP was 26.67%. Rs.245 Crores remains unpaid to MIPP. Downward adjustment made for two years only (AYs 2013-14 and 2014-15) and that does not match the share premium of Rs.1973.77 crores (Rs.1847.05 crores in RKM + Rs.126.72 crores

DCIT COMPANY CIRCLE I(1),, CHENNAI vs. POOL THEVAR MARIMUTHU, CHENNAI

In the result, appeal filed by Revenue for the assessment

Bench: Shri V.Durga Rao & Shri G.Manjunathaआयकरअपीलसं./I.T.A.No.3399 & 3400/Chny/2019 ("नधा"रणवष" / Assessment Year: 2012-13 & 2013-14) The Deputy Commissioner Of Income Vs Mr. Pool Thevar Marimuthu Tax, Prop: M/S.Arun Enterprises 2 / 28, Reddy 1St Street, Company Circle-I(1), Chennai. Ekkattuthangal, Chennai-600 032. Pan: Aanpm 5361M (अपीलाथ"/Appellant) (""यथ"/Respondent)

section 80IC of the IT Act and such an undertaking is not established by splitting or reconstructing of an existing unit and if these yard sticks are applied to the facts prevailing in the case of the instant assessee it is evident that the Haridwar unit of the assessee is a reconstructing the existing unit of the assessee at Chennai

DCIT COMPANY CIRCLE I(1),, CHENNAI vs. POOL THEVAR MARIMUTHU, CHENNAI

In the result, appeal filed by Revenue for the assessment

Bench: Shri V.Durga Rao & Shri G.Manjunathaआयकरअपीलसं./I.T.A.No.3399 & 3400/Chny/2019 ("नधा"रणवष" / Assessment Year: 2012-13 & 2013-14) The Deputy Commissioner Of Income Vs Mr. Pool Thevar Marimuthu Tax, Prop: M/S.Arun Enterprises 2 / 28, Reddy 1St Street, Company Circle-I(1), Chennai. Ekkattuthangal, Chennai-600 032. Pan: Aanpm 5361M (अपीलाथ"/Appellant) (""यथ"/Respondent)

section 80IC of the IT Act and such an undertaking is not established by splitting or reconstructing of an existing unit and if these yard sticks are applied to the facts prevailing in the case of the instant assessee it is evident that the Haridwar unit of the assessee is a reconstructing the existing unit of the assessee at Chennai

M/S T vs. MOTOR COMPANY LIMITED,CHENNAIVS.ACIT CORPORATE CIRCLE 3 (1), CHENNAI

In the result, the appeal of the Revenue and the assessee are\ndecided as under:-\n\n| ITA Nos\n| Assessment\nYear\nResult\n| IT(TP)A No

2) shall apply to the amalgamated company or the resulting company, as the case may be, as they would have applied to the amalgamating company or the demerged company.\n(4) For the purposes of this section, —new assetll means any new plant or machinery (other than ship or aircraft) but does not include—\n(i) any plant or machinery

ROYAL SUNDARAM GENERAL INSURANCE COMPANY LTD,CHENNAI vs. DCIT, LTU, CHENNAI

depreciation @ 60% in similar situations. As the facts of\nthe case are identical, we do not find any need to interfere with the\nfindings of the Ld. First Appellate Authority. Accordingly, the decision\nof Ld. CIT(A) is sustained and grounds of appeal raised by the\nappellate revenue is dismissed.\n12.0 The next issue raised by the revenue vide

DCIT LTU 1, CHENNAI vs. M/S ROYAL SUNDARAM GENERAL INSURANCE COMPANY LIMITED, CHENNAI

section 36(1) of the Act. The basis of the\nPage - 42 - of 70\n:- 43 -:\nITA No.86 & 13 others /Chny/2018\nclaim was that the provision has been made for all the unsettled claims on the\nbasis of the claims alleged by insured persons. Certain times the loss incurred are\nnot reported in the balance sheet of the insurance company

DCIT LTU 1, CHENNAI vs. M/S ROYAL SUNDARAM GENERAL INSURANCE COMPANY LIMITED, CHENNAI

section 36(1) of the Act. The basis of the\nPage - 42 - of 70\n:- 43 -:\nITA No.86 & 13 others /Chny/2018\nclaim was that the provision has been made for all the unsettled claims on the\nbasis of the claims alleged by insured persons. Certain times the loss incurred are\nnot reported in the balance sheet of the insurance company

DCIT LTU 1, CHENNAI vs. M/S ROYAL SUNDARAM GENERAL INSURANCE COMPANY LIMITED, CHENNAI

section 36(1) of the Act. The basis of the\nPage - 42 - of 70\n:- 43 -:\nITA No.86 & 13 others /Chny/2018\nclaim was that the provision has been made for all the unsettled claims on the\nbasis of the claims alleged by insured persons. Certain times the loss incurred are\nnot reported in the balance sheet of the insurance company

DCIT LTU 1, CHENNAI vs. M/S ROYAL SUNDARAM GENERAL INSURANCE COMPANY LIMITED, CHENNAI

section 36(1) of the Act. The basis of the\nPage - 42 - of 70\n:- 43 -:\nITA No.86 & 13 others /Chny/2018\nclaim was that the provision has been made for all the unsettled claims on the\nbasis of the claims alleged by insured persons. Certain times the loss incurred are\nnot reported in the balance sheet of the insurance company

ROYAL SUNDARAM GENERAL INSURANCE COMPANY LTD,CHENNAI vs. DCIT, LTU, CHENNAI

section 36(1) of the Act. The basis of the\nPage - 42 - of 70\nITA No.86 & 13 others /Chny/2018\n:- 43 -:\nclaim was that the provision has been made for all the unsettled claims on the\nbasis of the claims alleged by insured persons. Certain times the loss incurred are\nnot reported in the balance sheet of the insurance company

ROYAL SUNDARAM GENERAL INSURANCE COMPANY LTD,CHENNAI vs. DCIT, LTU, CHENNAI

section 36(1) of the Act. The basis of the\n:- 43 -:\nITA No.86 & 13 others /Chny/2018\nclaim was that the provision has been made for all the unsettled claims on the\nbasis of the claims alleged by insured persons. Certain times the loss incurred are\nnot reported in the balance sheet of the insurance company and therefore, such\nclaims