AYM SYNTEX LTD.(FORMERLY KNOWN AS M/S. WELSPUN SYNTEX LTD.),MUMBAI vs. DCIT- CC- 3(3), MUMBAI

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

115B of the Act. The decision of the Hon'ble Supreme Court has been examined and no such intent is visible in the Court has been examined and no such intent is visible in the Court has been examined and no such intent is visible in the decision. Once the accounts of the assessee have been prepared in decision. Once

AYM SYNTEX LTD. (FORMERLY KNOWN AS M/S. WELSPUN SYNTEX LTD.),MUMBAI vs. DCIT- CC- 3(4), MUMBAI

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

115B of the Act. The decision of the Hon'ble Supreme Court has been examined and no such intent is visible in the Court has been examined and no such intent is visible in the Court has been examined and no such intent is visible in the decision. Once the accounts of the assessee have been prepared in decision. Once

M/S. AYM SYNTEX LTD (FORMERLY KNOWN AS M/S. WELSPUN SYNTEX LTD,MUMBAI vs. DCIT -CENT CIR-3(4) , MUMBAI

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

115B of the Act. The decision of the Hon'ble Supreme Court has been examined and no such intent is visible in the Court has been examined and no such intent is visible in the Court has been examined and no such intent is visible in the decision. Once the accounts of the assessee have been prepared in decision. Once

ACIT- CC -3, MUMBAI vs. AYM SYNTEX LTD., MUMBAI

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

115B of the Act. The decision of the Hon'ble Supreme Court has been examined and no such intent is visible in the Court has been examined and no such intent is visible in the Court has been examined and no such intent is visible in the decision. Once the accounts of the assessee have been prepared in decision. Once

ACIT CENT. CIR 3(3) , MUMBAI vs. M/S. AYM SYNTEX LTD, MUMBAI

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

115B of the Act. The decision of the Hon'ble Supreme Court has been examined and no such intent is visible in the Court has been examined and no such intent is visible in the Court has been examined and no such intent is visible in the decision. Once the accounts of the assessee have been prepared in decision. Once

JCIT (OSD), I/C DCIT, CIRCLE-8(3)(1), MUMBAI vs. M/S. TATA AIA LIFE INSURANCE CO. LTD., MUMBAI

In the result, appeals of the Revenue stands dismissed and appeal/CO of assessee are partly allowed for statistical purposes

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.1897/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2013-14) Jt. Commissioner Of Income बिधम/ M/S. Tata Aia Life Tax (Osd)- I/C Dcit, Insurance Co. Ltd. Vs. 14Th Floor, Tower-A, Circle-8(3)(1) Aaykar Bhavan, Room No. Peninsula Business Park, 615, M. K. Road, New Senapati, Bapat Marg, Marine Lines, Mumbai- Lower Parel, Mumbai- 400020. 400013. Cross Objection No. 80/Mum/2023 Arising Out Of I.T.A. No.1897/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2013-14) M/S. Tata Aia Life बिधम/ Jt. Commissioner Of Insurance Co. Ltd. Income Tax (Osd)- I/C Vs. 14Th Floor, Tower-A, Dcit, Circle-8(3)(1) Peninsula Business Park, Aaykar Bhavan, Room Senapati, Bapat Marg, No. 615, M. K. Road, Lower Parel, Mumbai- New Marine Lines, 400013. Mumbai-400020. आयकर अपील सं/ I.T.A. No.1759/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2018-19) Jt. Commissioner Of Income बिधम/ M/S. Tata Aia Life Tax (Osd)- I/C Dcit, Insurance Co. Ltd. Vs. Circle-8(3)(1) 14Th Floor, Tower-A, Aaykar Bhavan, Room No. Peninsula Business Park, 615, M. K. Road, New Senapati, Bapat Marg, Marine Lines, Mumbai- Lower Parel, Mumbai- 400020. 400013. .

Capital gains" or C.O. 80/Mum/2023 A.Ys. 2013-14 & 2018-19 Tata AIA Life Insurance Company Ltd. "Income from other sources", do not apply in the case of computation of income from insurance business. The effect of the non-obstante clause so far as the earlier part of section 44 is concerned, therefore, is that the provisions of section 44 will

TATA AIA LIFE INSURANCE COMPANY LIMITED ,MUMBAI vs. DCIT- 8(3)(1), MUMBAI

Capital gains\" or\n\n18\nITA Nos. 1897, 1759 & 1757/Mum/2023\nС.О. 80/Mum/2023\nA.Ys. 2013-14 & 2018-19\nTata AIA Life Insurance Company Ltd.\n\n\"Income from other sources\", do not apply in the case of\ncomputation of income from insurance business. The\neffect of the non-obstante clause so far as the earlier part\nof section

DCIT, MUMBAI vs. ICICI PRUDENTIAL LIFE INSURANCE LIMITED, MUMBAI

Accordingly, both the appeals preferred by the Revenue are\ndismissed

gains of business or profession\" at the rate of 12.5%\nin terms of Section 115B of the Act.\n11.2. Before the CIT(A), it was contended on behalf of the Appellant\nthat as per the certificate of registration issued by IRDA under\nSection 3(2A) of the Insurance Act, 1938 the Assessee holds\nlicense to carry out Life Insurance Business

DCIT CIRCLE-1 , THANE vs. M/S EVEREST INDUSTRIES LTD. , DELHI

In the result, the In the result, the assessee and Revenue are are educated as under:

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

115B of the Act despite the fact that no adjustment adjustment adjustment other other other than than than the the the ones ones ones mentioned menti menti in Sec.115JB is permissible as held by the Supreme Sec.115JB is permissible as held by the Supreme Sec.115JB is permissible as held by the Supreme Court in the case of Apollo Tyres

EVEREST INDUSTRIES LTD.,NOIDA vs. DY CIT CIRCLE- 1, THANE

In the result, the In the result, the assessee and Revenue are are educated as under:

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

115B of the Act despite the fact that no adjustment adjustment adjustment other other other than than than the the the ones ones ones mentioned menti menti in Sec.115JB is permissible as held by the Supreme Sec.115JB is permissible as held by the Supreme Sec.115JB is permissible as held by the Supreme Court in the case of Apollo Tyres

DCIT CIRCLE-1 , THANE vs. M/S EVEREST INDUSTRIES LTD. , DELHI

In the result, the In the result, the assessee and Revenue are are educated as under:

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

115B of the Act despite the fact that no adjustment adjustment adjustment other other other than than than the the the ones ones ones mentioned menti menti in Sec.115JB is permissible as held by the Supreme Sec.115JB is permissible as held by the Supreme Sec.115JB is permissible as held by the Supreme Court in the case of Apollo Tyres

DCIT, CIRCLE-1 ,, THANE vs. EVEREST INDUSTRIES LTD., MUMBAI

In the result, the In the result, the assessee and Revenue are are educated as under:

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

115B of the Act despite the fact that no adjustment adjustment adjustment other other other than than than the the the ones ones ones mentioned menti menti in Sec.115JB is permissible as held by the Supreme Sec.115JB is permissible as held by the Supreme Sec.115JB is permissible as held by the Supreme Court in the case of Apollo Tyres

EVEREST INDUSTRIES LTD, NOIDA vs. DY CIT CIRLCE-1 , THANE

In the result, the In the result, the assessee and Revenue are are educated as under:

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

115B of the Act despite the fact that no adjustment adjustment adjustment other other other than than than the the the ones ones ones mentioned menti menti in Sec.115JB is permissible as held by the Supreme Sec.115JB is permissible as held by the Supreme Sec.115JB is permissible as held by the Supreme Court in the case of Apollo Tyres

EVEREST INDUSTRIES LTD,NOIDA vs. DY CIT CIRLCE-1, THANE

In the result, the In the result, the assessee and Revenue are are educated as under:

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

115B of the Act despite the fact that no adjustment adjustment adjustment other other other than than than the the the ones ones ones mentioned menti menti in Sec.115JB is permissible as held by the Supreme Sec.115JB is permissible as held by the Supreme Sec.115JB is permissible as held by the Supreme Court in the case of Apollo Tyres

LIFE INSURANCE CORPORATION OF INDIA,MUMBAI vs. DY.COMMISSIONER OF INCOME TAX-3(2)(1), MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

115B of the Act and therefore the learned AO has erred in taxing the same at the rate of 30%; Levy of tax under section 115-0 on the distributed profits amounting to Rs. 245,14,05,000 19. erred in levying tax under section 115-O on the surplus amount paid by the appellant to GOI in accordance with

LIFE INSURANCE CORPORATION OF INDIA,MUMBAI vs. DY.COMMISSIONER OF INCOME TAX-3(2)(1), MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

115B of the Act and therefore the learned AO has erred in taxing the same at the rate of 30%; Levy of tax under section 115-0 on the distributed profits amounting to Rs. 245,14,05,000 19. erred in levying tax under section 115-O on the surplus amount paid by the appellant to GOI in accordance with

LIFE INSURANCE CORPORATION OF INDIA,MUMBAI vs. DY.COMMISSIONER OF INCOME TAX-3(2)(1), MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

115B of the Act and therefore the learned AO has erred in taxing the same at the rate of 30%; Levy of tax under section 115-0 on the distributed profits amounting to Rs. 245,14,05,000 19. erred in levying tax under section 115-O on the surplus amount paid by the appellant to GOI in accordance with

LIFE INSURANCE CORPORATION OF INDIA,MUMBAI vs. DY.COMMISSIONER OF INCOME TAX-3(2)(1), MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blelife Insurance Corporation Of India V. Dcit – 3(2)(1) Central Office, F&A Department Room No. 608 3Rd Floor, West Wing Aayakar Bhavan, M.K. Road “Yogakshema” Jeevan Bima Marg Mumbai - 400020 Mumbai - 400021 Pan: Aaacl0582H Appellant Respondent Acit – 3(2)(1) V. M/S. Life Insurance Corporation Of India Central Office Room No. 674, 6Th Floor “Yogakshema” Jeevan Bima Marg Aayakar Bhavan, M.K. Road Nariman Point, Mumbai - 400021 Mumbai - 400020 Pan: Aaacl0582H Appellant Respondent

115B of the Act and therefore the learned AO has erred in taxing the same at the rate of 30%; 5 ITA No. 1710 and 1714/MUM/2022 (A.Y. 2013-14) M/s. Life Insurance Corporation of India Levy of tax under section 115-O on the distributed profits amounting to Rs. 215,45,70,000 19. erred in levying tax under section