GOLDMAN SACHS (INDIA) SECURITIES P.LTD,MUMBAI vs. ITO (IT) TDS 3, MUMBAI

capital gains. 28.4 This amendment will take effect from 1st day of April, 2000 and will, accordingly, apply in relation to the assessment year 2000-2001 and subsequent years.” It is worth mentioning that provisions of section 115Q

KORN FERRY INTERNATIONAL P.LTD,MUMBAI vs. DCIT 3(2), MUMBAI

Appeal of the AO is dismissed

capital gains. 28.4 This amendment will take effect from 1st day of April, 2000 and will, accordingly, apply in relation to the assessment year 2000-2001 and subsequent years.” It is worth mentioning that provisions of section 115Q

M/S LIFE INSURANCE CORPORATION OF INDIA,MUMBAI-400021 vs. DY COMMISSIONER OF INCOME TAX-3(2)(1), MUMBAI

Appeal is disposed off as being partly allowed

Gains of business (Section 28 to 43B) ITA. Nos. 927,957, 983,1021, 1074 & 1339/Mum/2022 Assessment Years: 2012-2013, 2018-19 & 2019-20 Apart from above, the provisions of section 44 would also override provisions of section 199 relating to credit of tax deducted for the purpose of computation of income.. It is no denying the fact that

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

gainfully referred to the concluding portion of the ITAT order as under: 1) We have rival submissions and perused the material on record. Basic question to be decided by us is whether the income respect of shareholders’ account should be taxed in the hands of the assessee or not? The undisputed facts relevant for deciding the issue can be summarised

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

gainfully referred to the concluding portion of the ITAT order as under: 1) We have rival submissions and perused the material on record. Basic question to be decided by us is whether the income respect of shareholders’ account should be taxed in the hands of the assessee or not? The undisputed facts relevant for deciding the issue can be summarised

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

gainfully referred to the concluding portion of the ITAT order as under: 1) We have rival submissions and perused the material on record. Basic question to be decided by us is whether the income respect of shareholders’ account should be taxed in the hands of the assessee or not? The undisputed facts relevant for deciding the issue can be summarised

ACIT-3(2)(1), MUMBAI, MUMBAI vs. M/S LIFE INSURANCE CORPORATION OF INDIA, 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

gainfully referred to the concluding portion of the ITAT order as under: 1) We have rival submissions and perused the material on record. Basic question to be decided by us is whether the income respect of shareholders’ account should be taxed in the hands of the assessee or not? The undisputed facts relevant for deciding the issue can be summarised

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

gainfully referred to the concluding portion of the ITAT order as under: 1) We have rival submissions and perused the material on record. Basic question to be decided by us is whether the income respect of shareholders’ account should be taxed in the hands of the assessee or not? The undisputed facts relevant for deciding the issue can be summarised

LIFE INSURANCE CORPORATION OF INDIA,MUMBAI vs. ACIT 3(2)(1), MUMBAI

In the result, appeal of the assessee is dismissed

Bench: Shri Pramod Kumar, Vice- & Shri Vikas Awasthyआअसं.2908/मुं/2019 ("न.व .2015-16) The Acit 3(2)(1), Room No.674, 6Th Floor, Aaykar Bhavan, M.K.Road, ...... अपीलाथ" /Appellant Mumbai – 400 020 बनाम Vs. Life Insurance Corporation Of India, Central Office, Yogakshema Jeevan Bima Marg, Nariman Point, Mumbai 400 005. Pan: Aaacl-0582-H ..... ""तवाद"/Respondent आअसं. 3403/मुं/2019 ("न. व .2015-16) Life Insurance Corporation Of India, Central Office, Yogakshema Jeevan Bima Marg, Nariman Point, Mumbai 400 005. ...... अपीलाथ" /Appellant Pan: Aaacl-0582-H बनाम Vs. The Acit 3(2)(1), Room No.674, 6Th Floor, Aaykar Bhavan, M.K.Road, ..... ""तवाद"/Respondent Mumbai – 400 02

section 115-O r.w.s. 115Q of the Act and made addition of the aforesaid amount. In first appeal the CIT(A) deleted the addition by following the order of Tribunal in assessee’s own case in ITA No.2025/Mum/2000 for assessment year 1998-99 dated 18/12/2006, which has been subsequently followed by the Tribunal in assessee’s own case for assessment

ACIT 3(2)(1), MUMBAI vs. LIFE INSURANCE CORPORATION OF INDIA, MUMBAI

In the result, appeal of the assessee is dismissed

Bench: Shri Pramod Kumar, Vice- & Shri Vikas Awasthyआअसं.2908/मुं/2019 ("न.व .2015-16) The Acit 3(2)(1), Room No.674, 6Th Floor, Aaykar Bhavan, M.K.Road, ...... अपीलाथ" /Appellant Mumbai – 400 020 बनाम Vs. Life Insurance Corporation Of India, Central Office, Yogakshema Jeevan Bima Marg, Nariman Point, Mumbai 400 005. Pan: Aaacl-0582-H ..... ""तवाद"/Respondent आअसं. 3403/मुं/2019 ("न. व .2015-16) Life Insurance Corporation Of India, Central Office, Yogakshema Jeevan Bima Marg, Nariman Point, Mumbai 400 005. ...... अपीलाथ" /Appellant Pan: Aaacl-0582-H बनाम Vs. The Acit 3(2)(1), Room No.674, 6Th Floor, Aaykar Bhavan, M.K.Road, ..... ""तवाद"/Respondent Mumbai – 400 02

section 115-O r.w.s. 115Q of the Act and made addition of the aforesaid amount. In first appeal the CIT(A) deleted the addition by following the order of Tribunal in assessee’s own case in ITA No.2025/Mum/2000 for assessment year 1998-99 dated 18/12/2006, which has been subsequently followed by the Tribunal in assessee’s own case for assessment

LIFE INSURANCE CORPORATION OF INDIA,MUMBAI vs. ADDL CIT 3(2)(1), MUMBAI

In the result this appeal file by the assessee stands dismissed

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2011-12 Dcit -3(2)(1), M/S. Life Insurance Room No.605, 6Th Floor बनाम/ Corporation Of India , Aayakar Bhavan Central Office, F & A Deptt. Vs. M.K. Road 3Rd Floor, West Wing Mumbai-400020. Yogkshema Jeevan Bima Marg Mumbai-400021 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No. Aaacl 0582 H Assessment Year: 2011-12 M/S. Life Insurance Dcit -3(2)(1), Corporation Of India , Room No.605, 6Th Floor बनाम/ Central Office, F & A Deptt. Aayakar Bhavan Vs. 3Rd Floor, West Wing M.K. Road Yogkshema Jeevan Bima Marg Mumbai-400020. Mumbai-400021 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No. Aaacl 0582 H

Capital gains” Or “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 prevail notwithstanding the fact that there are contrary provisions in the Act relating

GRASIM INDUSTRIES LTD.,MUMBAI vs. DY CIT, CENTRAL CIRCLE-1(4), MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

115Q read with Section 115O of the act determining the deemed distribution of dividend u/s 2 (22) (a) of the act amounting to rupees 24037,37,18,198 being the value of 92,02,66,915 shares at the rate of ₹ 261.20 per share determining the dividend distribution tax payable of ₹ 48,934,440,243 and interest thereon amounting

DY CIT CC-1(4), MUMBAI vs. M/S GRASIM INDUSTRIES LTD., MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

115Q read with Section 115O of the act determining the deemed distribution of dividend u/s 2 (22) (a) of the act amounting to rupees 24037,37,18,198 being the value of 92,02,66,915 shares at the rate of ₹ 261.20 per share determining the dividend distribution tax payable of ₹ 48,934,440,243 and interest thereon amounting

PFIZER LTD,MUMBAI vs. DCIT - 14(2) (2), MUMBAI

In the result, appeal filed by the assessee is partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm M/S Pfizer Limited The Capital, 1802/1901, Acit-14(2)(2) Plot No.C-70, G-Block, 461, 4T H Floor, Aaykar Bhavan Bandra Kurla Complex, Vs. Mumbai-400 020 Bandra (East), Mumbai-400 051 (Appellant) (Respondent) Pan No. Aaacp3334M

115Q of the act. Therefore, adequate information available on the record, we have no hesitation in admitting the additional ground of appeal. Hence, we admit the same. 017. Coming to the merits of the ground of appeal, the learned authorized representative submitted that ITA No.2108, 2132/Mum/2018 & CO 110/Mum/2019; A.Y. 2014-15 i. Shareholders of Pfizer Ltd is a resident

ACIT - 14(2) (2), MUMBAI vs. PFIZER LTD, MUMBAI

In the result, appeal filed by the assessee is partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm M/S Pfizer Limited The Capital, 1802/1901, Acit-14(2)(2) Plot No.C-70, G-Block, 461, 4T H Floor, Aaykar Bhavan Bandra Kurla Complex, Vs. Mumbai-400 020 Bandra (East), Mumbai-400 051 (Appellant) (Respondent) Pan No. Aaacp3334M

115Q of the act. Therefore, adequate information available on the record, we have no hesitation in admitting the additional ground of appeal. Hence, we admit the same. 017. Coming to the merits of the ground of appeal, the learned authorized representative submitted that ITA No.2108, 2132/Mum/2018 & CO 110/Mum/2019; A.Y. 2014-15 i. Shareholders of Pfizer Ltd is a resident

M/S. VAN-OORD INDIA PVT. LTD,MUMBAI vs. ACIT CIR 5(3) (2) , MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri Amit Shukla & Shri Gagan Goyalm/S. Van Oord India Pvt. Ltd. 201, 2Nd Floor, Central Plaza, 166 Cst Road, Kalina, Raheja Towers, Opp. Sidbi, Mumbai-400 098 Pan: Aaach5430J ..... Appellant Vs. Acit Circle 5(3) (2) Aayakar Bhavan, M. K. Road, Mumbai- 400 020 ..... Respondent & Acit Circle 5(3) (2) Aayakar Bhavan, M. K. Road, Mumbai- 400 020 ...... Appellant Vs.

gains. 4. Whether on the facts and circumstances of the case and in law, Hon'ble CIT(A) was not appreciating the facts that income under TTS does not take into consideration, the effect of International transactions between assessee and its AEs on its income and to mitigate this, Section 92(1) of the Act is there, which reads