DCIT CEN 5 3, MUMBAI vs. ICICI LOMBARD GENERAL INSURANCE CO. LIMITED, MUMBAI

In the result, appeals of the Revenue are allowed partly

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

44, the assessee could not take its income outside the purview of taxation assessee could not take its income outside the purview of taxation assessee could not take its income outside the purview of taxation ICICI Lombard General Insurance Co. Ltd., ICICI Lombard General Insurance Co. Ltd., by claiming exemptions under section 10. It was also noted that

DCIT CEN 5 3, MUMBAI, MUMBAI vs. ICICI LOMBARD GENERAL INSURANCE CO. LIMITED, MUMBAI

In the result, appeals of the Revenue are allowed partly

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

44, the assessee could not take its income outside the purview of taxation assessee could not take its income outside the purview of taxation assessee could not take its income outside the purview of taxation ICICI Lombard General Insurance Co. Ltd., ICICI Lombard General Insurance Co. Ltd., by claiming exemptions under section 10. It was also noted that

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

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

depreciation charged on assets should not be added back to the surplus. The appeals were dismissed.", "result": "Dismissed", "sections": ["Section 44

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 6(2), MUMBAI., MUMBAI vs. ICICI PRUDENTIAL LIFE INSURANCE LIMITED, MUMBAI

Appeal are dismissed

section 44 of the Act could\nbe made. Consequently depreciation which\nhas been debited in the audited accounts as\nper

TATA COMMUNICATIONS LIMITED,MUMBAI vs. PRINCIPLE COMMISSIONER OF INCOME TAX, MUMBAI

In the result, the question of law referred to the Special Bench is answered in favour of the assessee

Bench: Shri Saktijit Dey & Shri Arun Khodpiatata Communications Limited Pr. Cit, Videsh Sanchar Bhavan, Mumbai-1 Vs. M. G. Road, Fort, Mumbai-400 001 Pan/Gir No. Aaacv 2808 C (Appellant) : (Respondent) Appellant By : Shri J. D. Mistri Respondent By : Shri Ritesh Misra, Cit Dr Date Of Hearing : 25.09.2025 Date Of Pronouncement : 25.09.2025 O R D E R Per Saktijit Dey: The Present Appeal, At The Instance Of The Assessee, Assails Order Dated 21.03.2025, Passed U/S. 263 Of The Income Tax Act, 1961 (‘The Act’ For Short), By Learned Principal Commissioner Of Income Tax (‘Ld. Pcit’ For Short), Pertaining To The Assessment Year (A.Y.) 2018-19. 2. Though The Assessee Has Raised Multiple Grounds, Both On Jurisdictional Issues As Well As On Merits, However, There Is Consensus Between The Parties That The Appeal Can Be Decided On Merits, In Which Event, There Is No Need To Go Into Various Other Issues Raised In Appeal.

44. Accordingly, we hold that capital gains arising out of the depreciable asset u/s 50 even though deem to be capital gain arising from transfer of a short term capital asset, that fiction has to be confined only to section

SAMIR NARAIN BHOJWANI ,MUMBAI vs. DCIT 4(2)(1), MUMBAI

Appeal of the assessee is allowed for statistical purposes and the appeal of the revenue is dismissed

Bench: Shri Anikesh Banerjee, Jm & Ms Padmavathy S, Am

44. Accordingly, we hold that capital gains arising out of the depreciable asset u/s 50 even though deem to be capital gain arising from transfer of a short term capital asset, that fiction has to be confined only to section

ICICI PRUDENTIAL LIFE INSURANCE COMPANY LTD,MUMBAI vs. ASST CIT CIR 6(1), MUMBAI

Bench: Shri S. Rifaur Rahman, Am & Shri Ram Lal Negi, Jm आयकरअपीलसं./ I.T.A. No. 384/Mum/2015 (निर्धारणवर्ा / Assessment Year: 2012-13)

depreciation has been claimed on these assets. Taxation of Life Insurance is presumptive taxation with only the surplus as disclosed by Form I being subjected to tax. In my view, as per the provisions of law only those adjustments which are expressly not prohibited under section 44

ACIT CIR. 12(1)(2), MUMBAI vs. BHARTI AXA LIFE INSURANCE COMPANY LTD., MUMBAI

In the result, the appeal of the revenue is dismissed and cross objection of the assessee is allowed

44 read with First Schedule to the Act (which is a self contained code by itself having non obstante clause) in the original assessment proceedings. Reliance in this regard was placed on the decision of the Hon‟ble Jurisdictional High Court in the case of Life Insurance Corporation of India vs CIT reported in 119 ITR 900 (Bom). The main

THERMO FISHER SCIENTIFIC INDIA P. LTD,MUMBAI vs. DCIT 15(3)(1), MUMBAI

In the result, the appeal by the assessee is partly allowed for statistical\npurposes

depreciation\npertaining to the assessment year 2009-10 for carry forward and set off in\nthe year under consideration. As a result, ground no.8.1, raised in assessee's\nappeal, is allowed for statistical purposes.\nITA No.2458/Mum/2015 (A.Y. 2010-11)\n23\n24. Grounds no.8.2-8.4 were not pressed during the hearing. Accordingly,\nthe same are dismissed as not pressed.\n25. The issue

DCIT 1(3), MUMBAI vs. THE NEW INDIA ASSURANCE CO.LTD, MUMBAI

In the result all the appeals of the assessee and Revenue are allowed in part in terms indicated hereinabove

Bench: Shri R.C.Sharma, Am & Shri Amarjit Singh, Jm

section 44, read First schedule to the Income-Tax Act. Under the said scheme, only such adjustment can be made to the profits as disclosed in the annual accounts drawn under the Insurance Act, 1938, which are specifically provided under Rule 5. Prior to 01.04.1989, Clause b to Rule 5 read as under:- “(b) any amount either written

DCIT 3(2)(1), MUMBAI vs. THE NEW INDIA ASSURANCE COMPANY LIMITED, MUMBAI

The appeal of the revenue is dismissed

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

depreciation under section 32 has held that the such literal interpretation of section 44 read with Rule 5 would result

ANSHUL SPECIALTY MOLECULES PVT LTD,MUMBAI vs. DCIT, CIRCLE 1(1)(1), MUMBAI

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

Bench: Shri Amit Shukla & Shri Makarand Vasant Mahadeokaranshul Speciality Dcit Circle Molecules Private 1(1)(1), Mumbai Limited Vs. Aayakar Bhawani, Flexcel Park, „C‟ Wing, S.V. Mumbai-400 020 Road, Nr. 24 Karat Multiplex, Jogeshwari (W), Mumbai- 400102 Pan/Gir No. Aabca4003H (Applicant) (Respondent) Assessee By Shri H. N. Motiwala, Revenue By Shri Surendra Mohan, Sr. Dr Date Of Hearing 20.01.2026 Date Of Pronouncement 22.01.2026

section 32(1) of the Act, the Assessing Officer held that depreciation on such goodwill was not allowable. 5. Accordingly, the Assessing Officer disallowed the depreciation of Rs. 1,22,44

DCIT CIR 6(3)(1), MUMBAI vs. IDBI FEDERAL LIFE INSURANCE CO. LTD, MUMBAI

In the result, the appeals of Revenue are dismissed and the appeals of assessee are allowed in term of the above

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am

section 44 of the I.T. Act?” In ITA No. 70,71,1044,1045/Mum/2018 6948 & 6970/Mum/2017 10. We have heard the rival contentions and gone through the facts and circumstances of the case. We noted that the assessee has claimed 100% depreciation

DCIT CIR 6(3)(1), MUMBAI vs. IDBI FEDERAL LIFE INSURANCE CO. PVT. LTD, MUMBAI

In the result, the appeals of Revenue are dismissed and the appeals of assessee are allowed in term of the above

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am

section 44 of the I.T. Act?” In ITA No. 70,71,1044,1045/Mum/2018 6948 & 6970/Mum/2017 10. We have heard the rival contentions and gone through the facts and circumstances of the case. We noted that the assessee has claimed 100% depreciation

DCIT CIR 6(3)(1), MUMBAI vs. IDBI FEDERAL LIFE INSURANCE CO. PVT. LTD, MUMBAI

In the result, the appeals of Revenue are dismissed and the appeals of assessee are allowed in term of the above

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am

section 44 of the I.T. Act?” In ITA No. 70,71,1044,1045/Mum/2018 6948 & 6970/Mum/2017 10. We have heard the rival contentions and gone through the facts and circumstances of the case. We noted that the assessee has claimed 100% depreciation

IDBI FEDERAL LIFE INSURANCE CO. LTD,MUMBAI vs. DCIT CIR 6(3)(1), MUMBAI

In the result, the appeals of Revenue are dismissed and the appeals of assessee are allowed in term of the above

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am

section 44 of the I.T. Act?” In ITA No. 70,71,1044,1045/Mum/2018 6948 & 6970/Mum/2017 10. We have heard the rival contentions and gone through the facts and circumstances of the case. We noted that the assessee has claimed 100% depreciation

IDBI FEDERAL LIFE INSURANCE CO. LTD,MUMBAI vs. DCIT CIR 6(3)(1), MUMBAI

In the result, the appeals of Revenue are dismissed and the appeals of assessee are allowed in term of the above

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am

section 44 of the I.T. Act?” In ITA No. 70,71,1044,1045/Mum/2018 6948 & 6970/Mum/2017 10. We have heard the rival contentions and gone through the facts and circumstances of the case. We noted that the assessee has claimed 100% depreciation

GATI KINTETSU EXPRESS PRIVATE LIMITED ,MAHARASHTRA AND MUMBAI vs. DY. COMMISSIONER OF INCOME TAX, CIRCLE 14(1)(2), MUMBAI, MAHARASHTRA AND MUMBAI

In the result, In the result, appeal for AY 2013-14 is allowed partly for 14 is allowed partly for statistical purposes, purposes, appeal for AY 2014-15 is partly allowed, is partly allowed, appeal...

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

depreciation on the amount of the goodwill recorded in the books of depreciation on the amount of the goodwill recorded in the books of depreciation on the amount of the goodwill recorded in the books of accounts of the assessee under the BTA between the assessee and accounts of the assessee under the BTA between the assessee and accounts