UNITED INDIA INSUANCE CO LIMITED,CHENNAI vs. PCIT 3, CHENNAI

In the result, the appeals for AY 2014-15, 2016-17 & 2017-18 are

disallowance of provisions on account of IBNR and IBNER claims charged to P & L account by holding it to be unascertained liability and not allowable under section 37(1) of the Act and added back to the total income under the normal provisions. It is noted that the Id. PCIT under section 263 of the Act, having found the same

UNITED INDIA INSURANCE CO LTD,CHENNAI vs. PCIT, CHENNAI

disallowance of provisions on account of IBNR and IBNER claims charged to P & L account by holding it to be unascertained liability and not allowable under section 37(1) of the Act and added back to the total income under the normal provisions. It is noted that the Id. PCIT under section 263 of the Act, having found the same

UNITED INDIA INSURANCE CO.LTD,CHENNAI vs. PCIT-3,, CHENNAI

37. Ground No. 7 raised by the assessee for AY 2016-17 is with regard to the provisions made by the assessee towards diminution in the value of 24 I.T.A. No.1759/Chny/19 & Ors United India Insurance investments. We note that the provision for diminution in the value of other than actively traded equities for fire insurance account, marine insurance account, miscellaneous

ALBERT & CO. P. LTD.,CHENNAI vs. ITO CORPORATE WARD 6(1), CHENNAI

Appeal is partly allowed

Bench: Shri G. Manjunatha & Shri Rahul Chaudhary

disallowance under Section 40(a)(ia) of the Act after giving benefit of Second Proviso to Section 40(a)(ia) of the Act subject to the Appellant complying with the I.T.A. Nos. 1618/CHNY/2017 &. 2577 & 2578/CHNY/2018 Assessment Years : 2012 -13, 2013 -14 & 2014 -15 requirements of the said provision by furnishing relevant certificate/documents. In view of the aforesaid, Ground

ALBERT & CO. P. LTD.,CHENNAI vs. ITO CORPORATE WARD 6(1), CHENNAI

Appeal is partly allowed

Bench: Shri G. Manjunatha & Shri Rahul Chaudhary

disallowance under Section 40(a)(ia) of the Act after giving benefit of Second Proviso to Section 40(a)(ia) of the Act subject to the Appellant complying with the I.T.A. Nos. 1618/CHNY/2017 &. 2577 & 2578/CHNY/2018 Assessment Years : 2012 -13, 2013 -14 & 2014 -15 requirements of the said provision by furnishing relevant certificate/documents. In view of the aforesaid, Ground

ALBERT & CO. P LTD. ,CHENNAI vs. ITO CORPORATE WARD 6(1) , CHENNAI

Appeal is partly allowed

Bench: Shri G. Manjunatha & Shri Rahul Chaudhary

disallowance under Section 40(a)(ia) of the Act after giving benefit of Second Proviso to Section 40(a)(ia) of the Act subject to the Appellant complying with the I.T.A. Nos. 1618/CHNY/2017 &. 2577 & 2578/CHNY/2018 Assessment Years : 2012 -13, 2013 -14 & 2014 -15 requirements of the said provision by furnishing relevant certificate/documents. In view of the aforesaid, Ground

SHRIRAM CREDIT COMPANY LTD.,CHENNAI vs. DCIT CORPORATE CIRCLE 6(1), CHENNAI

In the result, the appeal filed by the Revenue is dismissed and the appeal filed by the assessee is partly allowed

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.1199/Chny/2018 िनधा"रण वष"/Assessment Year: 2014-15 The Deputy Commissioner Of Vs. M/S. Shriram Credit Company Income Tax, Corporate Circle 6(1) I/C, Limited, Shriram House, No. 4, Aayakar Bhavan, Wanaparthy Burkit Road, T. Nagar, Block, 7Th Floor, 121, M.G. Road, Chennai 600 042. Chennai 600 034. [Pan:Aagcs4497N] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.1307/Chny/2018 िनधा"रण वष"/Assessment Year: 2014-15 M/S. Shriram Credit Company Vs. The Deputy Commissioner Of Limited, Mookambika Complex, Income Tax, No. 4, Lady Desika Road, Corporate Circle 6(1), Mylapore, Chennai 600 004. Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) Department By : Shri P. Sajit Kumar, Jcit Assessee By : Shri R.Sivaraman, Advocate सुनवाई की तारीख/ Date Of Hearing : 30.03.2022 घोषणा की तारीख /Date Of Pronouncement : 13.04.2022 आदेश /O R D E R Per V. Durga Rao: Both The Appeals Filed By The Revenue As Well As Assessee Are Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 15, Chennai Dated 26.12.2017 Relevant To The Assessment

section 14A of the Act. Thus, the ground raised by the assessee is allowed and the ground raised by the Revenue become academic and requires no adjudication. 4. The next ground raised in the appeal of the Revenue in ground No. 3 to 3.3 relates to deletion of disallowance of royalty payment of ₹.56,43,969/-. The assessee has claimed

DCIT CORPORATE CIRCLE 6(1) (I/C) , CHENNAI vs. SHRIRAM CREDIT COMPANY LIMITED, CHENNAI

In the result, the appeal filed by the Revenue is dismissed and the appeal filed by the assessee is partly allowed

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.1199/Chny/2018 िनधा"रण वष"/Assessment Year: 2014-15 The Deputy Commissioner Of Vs. M/S. Shriram Credit Company Income Tax, Corporate Circle 6(1) I/C, Limited, Shriram House, No. 4, Aayakar Bhavan, Wanaparthy Burkit Road, T. Nagar, Block, 7Th Floor, 121, M.G. Road, Chennai 600 042. Chennai 600 034. [Pan:Aagcs4497N] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.1307/Chny/2018 िनधा"रण वष"/Assessment Year: 2014-15 M/S. Shriram Credit Company Vs. The Deputy Commissioner Of Limited, Mookambika Complex, Income Tax, No. 4, Lady Desika Road, Corporate Circle 6(1), Mylapore, Chennai 600 004. Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) Department By : Shri P. Sajit Kumar, Jcit Assessee By : Shri R.Sivaraman, Advocate सुनवाई की तारीख/ Date Of Hearing : 30.03.2022 घोषणा की तारीख /Date Of Pronouncement : 13.04.2022 आदेश /O R D E R Per V. Durga Rao: Both The Appeals Filed By The Revenue As Well As Assessee Are Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 15, Chennai Dated 26.12.2017 Relevant To The Assessment

section 14A of the Act. Thus, the ground raised by the assessee is allowed and the ground raised by the Revenue become academic and requires no adjudication. 4. The next ground raised in the appeal of the Revenue in ground No. 3 to 3.3 relates to deletion of disallowance of royalty payment of ₹.56,43,969/-. The assessee has claimed

DCIT, CHENNAI vs. SIVA VENTURES LTD., CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

10. The Honorable DRP/AO have failed to appreciate that during the relevant financial year the appellant had more interest income than interest expenses and hence, the provisions of section 14A of the Act ought not to apply. 11. The learned AC has erred in making the disallowance merely for the reason that the appellant had interest expenditure in its business

SIVA INDUSTRIES AND HOLDINGS LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

10. The Honorable DRP/AO have failed to appreciate that during the relevant financial year the appellant had more interest income than interest expenses and hence, the provisions of section 14A of the Act ought not to apply. 11. The learned AC has erred in making the disallowance merely for the reason that the appellant had interest expenditure in its business

DCIT, CHENNAI vs. SIVA VENTURES LTD., CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

10. The Honorable DRP/AO have failed to appreciate that during the relevant financial year the appellant had more interest income than interest expenses and hence, the provisions of section 14A of the Act ought not to apply. 11. The learned AC has erred in making the disallowance merely for the reason that the appellant had interest expenditure in its business

DCIT, CHENNAI vs. SIVA VENTURES LIMITED, CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

10. The Honorable DRP/AO have failed to appreciate that during the relevant financial year the appellant had more interest income than interest expenses and hence, the provisions of section 14A of the Act ought not to apply. 11. The learned AC has erred in making the disallowance merely for the reason that the appellant had interest expenditure in its business

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)

37 of the Act the expenditure relating to income has to be disallowed in respect of insurance company. 50 I.T.A. Nos.1674 to 1676 & 1759/Chny/11 I.T.A. No.40/Chny/09 I.T.A. Nos.1366 & 1350/Chny/13 I.T.A. Nos.2372 & 2276/Chny/14 I.T.A. Nos.1618 to 1621/Chny/11 I.T.A. No.2146/Chny/08 47. We have considered the rival submissions on either side and perused the relevant material available on record. In respect of insurance

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)

37 of the Act the expenditure relating to income has to be disallowed in respect of insurance company. 50 I.T.A. Nos.1674 to 1676 & 1759/Chny/11 I.T.A. No.40/Chny/09 I.T.A. Nos.1366 & 1350/Chny/13 I.T.A. Nos.2372 & 2276/Chny/14 I.T.A. Nos.1618 to 1621/Chny/11 I.T.A. No.2146/Chny/08 47. We have considered the rival submissions on either side and perused the relevant material available on record. In respect of insurance

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)

37 of the Act the expenditure relating to income has to be disallowed in respect of insurance company. 50 I.T.A. Nos.1674 to 1676 & 1759/Chny/11 I.T.A. No.40/Chny/09 I.T.A. Nos.1366 & 1350/Chny/13 I.T.A. Nos.2372 & 2276/Chny/14 I.T.A. Nos.1618 to 1621/Chny/11 I.T.A. No.2146/Chny/08 47. We have considered the rival submissions on either side and perused the relevant material available on record. In respect of insurance

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)

37 of the Act the expenditure relating to income has to be disallowed in respect of insurance company. 50 I.T.A. Nos.1674 to 1676 & 1759/Chny/11 I.T.A. No.40/Chny/09 I.T.A. Nos.1366 & 1350/Chny/13 I.T.A. Nos.2372 & 2276/Chny/14 I.T.A. Nos.1618 to 1621/Chny/11 I.T.A. No.2146/Chny/08 47. We have considered the rival submissions on either side and perused the relevant material available on record. In respect of insurance

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)

37 of the Act the expenditure relating to income has to be disallowed in respect of insurance company. 50 I.T.A. Nos.1674 to 1676 & 1759/Chny/11 I.T.A. No.40/Chny/09 I.T.A. Nos.1366 & 1350/Chny/13 I.T.A. Nos.2372 & 2276/Chny/14 I.T.A. Nos.1618 to 1621/Chny/11 I.T.A. No.2146/Chny/08 47. We have considered the rival submissions on either side and perused the relevant material available on record. In respect of insurance

ASSISTANT COMMISSIONER OF INCOME TAX, CHENNAI vs. COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED, CHENNAI

Bench: Shri Aby T Varkey, Hon'Ble & Shri S. R. Raghunatha, Hon'Bleआयकर अपील सं./Ita Nos.1193, 1194, 1205, 1206 & 1207/Chny/2024 (निर्धारण वर्ष / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) Cognizant Technology Solutions Vs The Asst. Commissioner India Pvt. Ltd., Of Income Tax, No.5/535, Okkiam Thoraipakkam, Central Circle 1(1), Old Mahabalipuram Road, Chennai. Chennai - 600 096. (प्रत्यर्थी/Respondent) Pan: Aaacd 3312M (अपीलार्थी/Appellant) & आयकर अपील सं./Ita Nos.1262, 1263, 1264, 1265 & 1266/Chny/2024 (निर्धारण वर्ष / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) The Asst. Commissioner Of Vs Cognizant Technology Income Tax, Solutions India Pvt. Ltd., Central Circle 1(1), No.5/535, Okkiam Chennai. Thoraipakkam, Old Mahabalipuram Road, Chennai - 600 096. Pan: Aaacd 3312M (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) निधारिती की ओर से/Assessee By राजस्व की ओर से /Revenue By : Shri N.V. Balaji, Advocate : Shri R. Clement Ramesh Kumar, Cit & Ms. Anitha, Addl. Cit सुनवाई की तारीख/Date Of Hearing : 11.03.2025 घोषणा की तारीख/Date Of Pronouncement : 16.05.2025 - 2 -

disallowance u/s.14A of the Act to the book profits by treating the same as the amount of expenditure relatable to any income to which section 10 applies as per the provisions of clause (f) to Explanation 1 of section 115JB of the Act. 36.2 The Ld. CIT(A) while dealing with the issue under the provisions of section 115JB

EMPEE DISTILLERIES LTD.,CHENNAI vs. ADDL. CIT CORPORATE RANGE 2(1), CHENNAI

In the result, the order passed by the tribunal dated 9-1-2015 insofar as it pertains to the findings recorded against the assessee is hereby quashed

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos. 2334, 2335 & 2336/Chny/2017 िनधा"रण वष"/Assessment Years:2008-09, 2009-10 & 2010-11 M/S. Empee Distilleries Ltd., The Assistant Commissioner Of Empee Tower, No. 59, Harris Road, Vs. Income Tax, Company Range Ii, Pudupet, Chennai 600 002. Chennai Presently Corporate [Pan:Aaace1687N] Circle 2(1), Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri S. Sridhar, Advocate ""थ" की ओर से/Respondent By : Shri Raveendra Benakatti, Jcit सुनवाई की तारीख/ Date Of Hearing : 05.07.2022 घोषणा की तारीख /Date Of Pronouncement : 30.08.2022 आदेश /O R D E R Per V. Durga Rao: These Three Appeals Filed By The Assessee Are Directed Against The Common Order Of The Ld. Commissioner Of Income Tax (Appeals) 9, Dated 28.07.2017, Relevant To The Assessment Years 2008-09, 2009-10 & 2010-11. Since The Facts Are Identical & Common Issues Have Been Raised, All The Appeals Were Heard Together & Are Being Disposed Of By This Common Order For The Sake Of Brevity. The Assessee Has Raised The Following Common Grounds: 1. The Common Order Of The Commissioner Of Income Tax (Appeals) 9, Chennai Dated 28.07.2017 In I.T.A.No.20/2010-11/Cit(A)-9 For The Above

37(1) of the Act had no application to the facts of the case inasmuch as the evidence placed on record would clearly disprove such finding recorded in the impugned order. 5. The CIT (Appeals) failed to appreciate that the provisions of Section 40A(3) of the Act as well as the provisions in section