CLASSIC LINEN INTERNATIONAL PVT LTD.,CHENNAI vs. DCIT CORPORATE CIRCLE 1(2), CHENNAI

In the result, the appeal filed by assessee in iTA

Bench: Shri N.R.S. Ganesan & Shri Ramit Kochar"नधा$रण वष$ /Assessment Year: 2011-12

depreciation allowance under section 32, the written down value of any asset used for the purposes of the business of the undertaking shall be computed as if the assessee had claimed and been actually allowed the deduction in respect of depreciation for each of the relevant assessment year. (7) The provisions of sub-section (8) and sub-section

GATEWAY OFFICE PARKS PRIOVATE LIMITEDI,CHENNAI vs. ACIT, CORPORATE CICLE-6(1), CHENNAI

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

2) of section 56 shall be\nthe value, on the valuation date, of such unquoted equity shares as determined in\nthe following manner under clause (a) or clause (b), at the option of the assessee,\nnamely:-\n(a) The fair market value of unquoted equity shares =| (A-L)(PE)| x (PV)\nwhere,\nPage - 5 - of 14\nITA No.617/Chny/2024\nA=book

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

II for the period from 01/10/2014 to 31/12I2014 containing details of various aspects including the details of investments in shares made by M/s.Enerk International Holdings Limited and M/s Mudajaya Corporation Berhad.\niii. From this data, it is noticed that M/s.Mudajaya Corporation Berhad had invested shares at a premium of Rs.240/- per share in M/s.R.K.M.Powergen Pvt. Ltd. for the A.Y. 2010-11.Also

ACIT, CHENNAI vs. ROYAL SUNDARAM ALLIANCE INSURANCE COMPANY LIMITED, CHENNAI

In the result, the appeals filed by both the Revenue and the assessee are partly allowed

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George

2(9) of Insurance Act, 1938 as it stood before amendment in 2014, is applicable to the payment of re-insurance premium to non-resident re-insurance company, the assessee is liable to deduct tax. Therefore, the above decisions of Mumbai Bench and Pune Bench of this Tribunal also may not be of any assistance to the assessee

DCIT, CHENNAI vs. M/S. ROYAL SUNDARAM ALLIANCE INSURANCE CO. LTD., CHENNAI

In the result, the appeals filed by both the Revenue and the assessee are partly allowed

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George

2(9) of Insurance Act, 1938 as it stood before amendment in 2014, is applicable to the payment of re-insurance premium to non-resident re-insurance company, the assessee is liable to deduct tax. Therefore, the above decisions of Mumbai Bench and Pune Bench of this Tribunal also may not be of any assistance to the assessee

M/S. ROYAL SUNDARAM ALLIANCE INSURANCE COMPANY LIMITED,CHENNAI vs. ACIT, CHENNAI

In the result, the appeals filed by both the Revenue and the assessee are partly allowed

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George

2(9) of Insurance Act, 1938 as it stood before amendment in 2014, is applicable to the payment of re-insurance premium to non-resident re-insurance company, the assessee is liable to deduct tax. Therefore, the above decisions of Mumbai Bench and Pune Bench of this Tribunal also may not be of any assistance to the assessee

DCIT, CHENNAI vs. M/S. ROYAL SUNDARAM ALLIANCE INSURANCE CO. LTD., CHENNAI

In the result, the appeals filed by both the Revenue and the assessee are partly allowed

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George

2(9) of Insurance Act, 1938 as it stood before amendment in 2014, is applicable to the payment of re-insurance premium to non-resident re-insurance company, the assessee is liable to deduct tax. Therefore, the above decisions of Mumbai Bench and Pune Bench of this Tribunal also may not be of any assistance to the assessee

DCIT, CHENNAI vs. M/S. ROYAL SUNDARAM ALLIANCE INSURANCE CO. LTD., CHENNAI

In the result, the appeals filed by both the Revenue and the assessee are partly allowed

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George

2(9) of Insurance Act, 1938 as it stood before amendment in 2014, is applicable to the payment of re-insurance premium to non-resident re-insurance company, the assessee is liable to deduct tax. Therefore, the above decisions of Mumbai Bench and Pune Bench of this Tribunal also may not be of any assistance to the assessee

M/S. ROYAL SUNDARAM ALLIANCE INSURANCE COMPANY LIMITED,CHENNAI vs. ACIT, CHENNAI

In the result, the appeals filed by both the Revenue and the assessee are partly allowed

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George

2(9) of Insurance Act, 1938 as it stood before amendment in 2014, is applicable to the payment of re-insurance premium to non-resident re-insurance company, the assessee is liable to deduct tax. Therefore, the above decisions of Mumbai Bench and Pune Bench of this Tribunal also may not be of any assistance to the assessee

DCIT, CHENNAI vs. M/S. ROYAL SUNDARAM ALLIANCE INSURANCE CO. LTD., CHENNAI

In the result, the appeals filed by both the Revenue and the assessee are partly allowed

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George

2(9) of Insurance Act, 1938 as it stood before amendment in 2014, is applicable to the payment of re-insurance premium to non-resident re-insurance company, the assessee is liable to deduct tax. Therefore, the above decisions of Mumbai Bench and Pune Bench of this Tribunal also may not be of any assistance to the assessee

M/S. ROYAL SUNDARAM ALLIANCE INSURANCE COMPANY LIMITED,CHENNAI vs. ACIT, CHENNAI

In the result, the appeals filed by both the Revenue and the assessee are partly allowed

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George

2(9) of Insurance Act, 1938 as it stood before amendment in 2014, is applicable to the payment of re-insurance premium to non-resident re-insurance company, the assessee is liable to deduct tax. Therefore, the above decisions of Mumbai Bench and Pune Bench of this Tribunal also may not be of any assistance to the assessee

DCIT, CHENNAI vs. M/S. ROYAL SUNDARAM ALLIANCE INSURANCE CO. LTD., CHENNAI

In the result, the appeals filed by both the Revenue and the assessee are partly allowed

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George

2(9) of Insurance Act, 1938 as it stood before amendment in 2014, is applicable to the payment of re-insurance premium to non-resident re-insurance company, the assessee is liable to deduct tax. Therefore, the above decisions of Mumbai Bench and Pune Bench of this Tribunal also may not be of any assistance to the assessee

M/S. ROYAL SUNDARAM ALLIANCE INSURANCE COMPANY LIMITED,CHENNAI vs. ACIT, CHENNAI

In the result, the appeals filed by both the Revenue and the assessee are partly allowed

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George

2(9) of Insurance Act, 1938 as it stood before amendment in 2014, is applicable to the payment of re-insurance premium to non-resident re-insurance company, the assessee is liable to deduct tax. Therefore, the above decisions of Mumbai Bench and Pune Bench of this Tribunal also may not be of any assistance to the assessee

M/S. ROYAL SUNDARAM ALLIANCE INSURANCE COMPANY LIMITED,CHENNAI vs. ACIT, CHENNAI

In the result, the appeals filed by both the Revenue and the assessee are partly allowed

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George

2(9) of Insurance Act, 1938 as it stood before amendment in 2014, is applicable to the payment of re-insurance premium to non-resident re-insurance company, the assessee is liable to deduct tax. Therefore, the above decisions of Mumbai Bench and Pune Bench of this Tribunal also may not be of any assistance to the assessee

ACIT, CHENNAI vs. CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LTD., CHENNAI

In the result, the appeals filed by both the Revenue and the assessee are partly allowed

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.1674, 1675, 1759 & 1676/Chny/2011 "नधा"रण वष" / Assessment Years : 2003-04, 2004-05, 2006-07 & 2007-08 आयकर अपील सं./Ita No.40/Chny/2009 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No.1366/Chny/2013 "नधा"रण वष" / Assessment Year : 2008-09 & आयकर अपील सं./Ita No.2372/Chny/2014 "नधा"रण वष" / Assessment Year : 2009-10 The Deputy Commissioner Of M/S Cholamandalam Ms General Income Tax, V. Insurance Co. Ltd., Dare House, No.2, The Assistant Commissioner Of Nsc Bose Road, Income Tax. Chennai - 600 001. Large Taxpayer Unit, Chennai - 600 101. Pan : Aabcc 6633 K (अपीलाथ"/Appellant) (""यथ"/Respondent)

depreciation at the rate of 60%, we are unable to uphold the orders of the lower authorities. Accordingly, we set aside the orders of both the authorities below and direct the Assessing Officer to allow 60% in respect of UPS also. 56. The next issue arises for consideration is disallowance of exemption under Section

DCIT, CHENNAI vs. M/S. CHOLAMANDALAM MS GENERAL INSURANCE CO. LTD., CHENNAI

In the result, the appeals filed by both the Revenue and the assessee are partly allowed

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.1674, 1675, 1759 & 1676/Chny/2011 "नधा"रण वष" / Assessment Years : 2003-04, 2004-05, 2006-07 & 2007-08 आयकर अपील सं./Ita No.40/Chny/2009 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No.1366/Chny/2013 "नधा"रण वष" / Assessment Year : 2008-09 & आयकर अपील सं./Ita No.2372/Chny/2014 "नधा"रण वष" / Assessment Year : 2009-10 The Deputy Commissioner Of M/S Cholamandalam Ms General Income Tax, V. Insurance Co. Ltd., Dare House, No.2, The Assistant Commissioner Of Nsc Bose Road, Income Tax. Chennai - 600 001. Large Taxpayer Unit, Chennai - 600 101. Pan : Aabcc 6633 K (अपीलाथ"/Appellant) (""यथ"/Respondent)

depreciation at the rate of 60%, we are unable to uphold the orders of the lower authorities. Accordingly, we set aside the orders of both the authorities below and direct the Assessing Officer to allow 60% in respect of UPS also. 56. The next issue arises for consideration is disallowance of exemption under Section

DCIT, CHENNAI vs. M/S. CHOLAMANDALAM MS GENERAL INSURANCE CO. LTD., CHENNAI

In the result, the appeals filed by both the Revenue and the assessee are partly allowed

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.1674, 1675, 1759 & 1676/Chny/2011 "नधा"रण वष" / Assessment Years : 2003-04, 2004-05, 2006-07 & 2007-08 आयकर अपील सं./Ita No.40/Chny/2009 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No.1366/Chny/2013 "नधा"रण वष" / Assessment Year : 2008-09 & आयकर अपील सं./Ita No.2372/Chny/2014 "नधा"रण वष" / Assessment Year : 2009-10 The Deputy Commissioner Of M/S Cholamandalam Ms General Income Tax, V. Insurance Co. Ltd., Dare House, No.2, The Assistant Commissioner Of Nsc Bose Road, Income Tax. Chennai - 600 001. Large Taxpayer Unit, Chennai - 600 101. Pan : Aabcc 6633 K (अपीलाथ"/Appellant) (""यथ"/Respondent)

depreciation at the rate of 60%, we are unable to uphold the orders of the lower authorities. Accordingly, we set aside the orders of both the authorities below and direct the Assessing Officer to allow 60% in respect of UPS also. 56. The next issue arises for consideration is disallowance of exemption under Section

CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LTD.,CHENNAI vs. ACIT, CHENNAI

In the result, the appeals filed by both the Revenue and the assessee are partly allowed

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.1674, 1675, 1759 & 1676/Chny/2011 "नधा"रण वष" / Assessment Years : 2003-04, 2004-05, 2006-07 & 2007-08 आयकर अपील सं./Ita No.40/Chny/2009 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No.1366/Chny/2013 "नधा"रण वष" / Assessment Year : 2008-09 & आयकर अपील सं./Ita No.2372/Chny/2014 "नधा"रण वष" / Assessment Year : 2009-10 The Deputy Commissioner Of M/S Cholamandalam Ms General Income Tax, V. Insurance Co. Ltd., Dare House, No.2, The Assistant Commissioner Of Nsc Bose Road, Income Tax. Chennai - 600 001. Large Taxpayer Unit, Chennai - 600 101. Pan : Aabcc 6633 K (अपीलाथ"/Appellant) (""यथ"/Respondent)

depreciation at the rate of 60%, we are unable to uphold the orders of the lower authorities. Accordingly, we set aside the orders of both the authorities below and direct the Assessing Officer to allow 60% in respect of UPS also. 56. The next issue arises for consideration is disallowance of exemption under Section

CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LTD.,CHENNAI vs. ACIT, CHENNAI

In the result, the appeals filed by both the Revenue and the assessee are partly allowed

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.1674, 1675, 1759 & 1676/Chny/2011 "नधा"रण वष" / Assessment Years : 2003-04, 2004-05, 2006-07 & 2007-08 आयकर अपील सं./Ita No.40/Chny/2009 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No.1366/Chny/2013 "नधा"रण वष" / Assessment Year : 2008-09 & आयकर अपील सं./Ita No.2372/Chny/2014 "नधा"रण वष" / Assessment Year : 2009-10 The Deputy Commissioner Of M/S Cholamandalam Ms General Income Tax, V. Insurance Co. Ltd., Dare House, No.2, The Assistant Commissioner Of Nsc Bose Road, Income Tax. Chennai - 600 001. Large Taxpayer Unit, Chennai - 600 101. Pan : Aabcc 6633 K (अपीलाथ"/Appellant) (""यथ"/Respondent)

depreciation at the rate of 60%, we are unable to uphold the orders of the lower authorities. Accordingly, we set aside the orders of both the authorities below and direct the Assessing Officer to allow 60% in respect of UPS also. 56. The next issue arises for consideration is disallowance of exemption under Section