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

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

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

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

SBI LIFE INSURANCE CO. LTD,MUMBAI vs. ACIT 1(3), MUMBAI

In the result, Revenue’s appeals are dismissed and assessee’s appeals in ITA Nos

Bench: Shri Mahavir Singh () & Shri Ashwani Taneja ()

115B.” vii. The Learned CIT (A) has decided the said issue in favour of appellant in the previous assessment years. (Kindly refer the Sl.no. .3 of Annexure 8.) 14) Why the amount transfer from Policyholders' Accounts has been reduced from the Net Profit/(Loss) in Policyholders'. Account(Technical) and why it should not be treated as income / loss from other

SBI LIFE INSURANCE CO. LTD,MUMBAI vs. CIT 1, MUMBAI

In the result, Revenue’s appeals are dismissed and assessee’s appeals in ITA Nos

Bench: Shri Mahavir Singh () & Shri Ashwani Taneja ()

115B.” vii. The Learned CIT (A) has decided the said issue in favour of appellant in the previous assessment years. (Kindly refer the Sl.no. .3 of Annexure 8.) 14) Why the amount transfer from Policyholders' Accounts has been reduced from the Net Profit/(Loss) in Policyholders'. Account(Technical) and why it should not be treated as income / loss from other

SBI LIFE INSURANCE CO. LTD,MUMBAI vs. CIT 1, MUMBAI

In the result, Revenue’s appeals are dismissed and assessee’s appeals in ITA Nos

Bench: Shri Mahavir Singh () & Shri Ashwani Taneja ()

115B.” vii. The Learned CIT (A) has decided the said issue in favour of appellant in the previous assessment years. (Kindly refer the Sl.no. .3 of Annexure 8.) 14) Why the amount transfer from Policyholders' Accounts has been reduced from the Net Profit/(Loss) in Policyholders'. Account(Technical) and why it should not be treated as income / loss from other

DCIT 1(3), MUMBAI vs. SBI LIFE INSURANCE COMPLANY LTD, MUMBAI

In the result, Revenue’s appeals are dismissed and assessee’s appeals in ITA Nos

Bench: Shri Mahavir Singh () & Shri Ashwani Taneja ()

115B.” vii. The Learned CIT (A) has decided the said issue in favour of appellant in the previous assessment years. (Kindly refer the Sl.no. .3 of Annexure 8.) 14) Why the amount transfer from Policyholders' Accounts has been reduced from the Net Profit/(Loss) in Policyholders'. Account(Technical) and why it should not be treated as income / loss from other

SBI LIFE INSURANCE CO. LTD.,MUMBAI vs. D.C.I.T.(O.S.D.) -1(2), MUMBAI

In the result, Revenue’s appeals are dismissed and assessee’s appeals in ITA Nos

Bench: Shri Mahavir Singh () & Shri Ashwani Taneja ()

115B.” vii. The Learned CIT (A) has decided the said issue in favour of appellant in the previous assessment years. (Kindly refer the Sl.no. .3 of Annexure 8.) 14) Why the amount transfer from Policyholders' Accounts has been reduced from the Net Profit/(Loss) in Policyholders'. Account(Technical) and why it should not be treated as income / loss from other

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

penalty. 2.4 The grounds raised by the Revenue for The grounds raised by the Revenue for AY 2015 AY 2015-16 are reproduced as under: reproduced as under: 1. "The LD.CIT(A), "The LD.CIT(A), has erred in consideringthe subsidy received in the subsidy received in the form of Technology Upgradation Fund as a capital receipt, the form of Technology

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

penalty. 2.4 The grounds raised by the Revenue for The grounds raised by the Revenue for AY 2015 AY 2015-16 are reproduced as under: reproduced as under: 1. "The LD.CIT(A), "The LD.CIT(A), has erred in consideringthe subsidy received in the subsidy received in the form of Technology Upgradation Fund as a capital receipt, the form of Technology

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

penalty. 2.4 The grounds raised by the Revenue for The grounds raised by the Revenue for AY 2015 AY 2015-16 are reproduced as under: reproduced as under: 1. "The LD.CIT(A), "The LD.CIT(A), has erred in consideringthe subsidy received in the subsidy received in the form of Technology Upgradation Fund as a capital receipt, the form of Technology

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

penalty. 2.4 The grounds raised by the Revenue for The grounds raised by the Revenue for AY 2015 AY 2015-16 are reproduced as under: reproduced as under: 1. "The LD.CIT(A), "The LD.CIT(A), has erred in consideringthe subsidy received in the subsidy received in the form of Technology Upgradation Fund as a capital receipt, the form of Technology

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

penalty. 2.4 The grounds raised by the Revenue for The grounds raised by the Revenue for AY 2015 AY 2015-16 are reproduced as under: reproduced as under: 1. "The LD.CIT(A), "The LD.CIT(A), has erred in consideringthe subsidy received in the subsidy received in the form of Technology Upgradation Fund as a capital receipt, the form of Technology