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

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

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

GENERAL REINSURANCE AG,COLOGNE, GERMANY vs. ASSISTANT COMMISSIONER OF INCOME-TAX (INTERNATIONAL TAXATION) CIRCLE - 2(3)(2), MUMBAI

115B of the Act.\n15. Without prejudice to Ground No. 1, 12, 13 and 14 above, the learned AO has\non the facts and circumstances of the case, erred in levying tax at the rate of 40\nper cent on profits computed in accordance with the provisions of section 115.JB\nof the Act.\n16. Without prejudice to Ground

ACIT, CIRCLE-14(1)(1), MUMBAIQ vs. M/S KOTAK MAHINDRA LIFE INSURANCE COMPANY LTD, MUMBAI

In the result, the appeal of the Revenue is dismis

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2018-19 Acit-14(1)(1), M/S. Kotak Mahindra Life Room No. 432, 4Th Floor, Aayakar Insurance Company Ltd Bhavan, M.K.Road Vs. 2Nd Floor, 12 Bkc, Mumbai-400020. Bandra Kurla Complex Mumbai-400 051 Pan No. Aaaco3983B Appellant Respondent Assessee By : Shri. Madhur Agrawal, Adv. Revenue By : Smt. Madhumalti Ghosh, Cit Dr : Date Of Hearing 23/11/2022 Date Of Pronouncement : 30/11/2022

68,393/-. 3. On further appeal, the Ld. CIT(A) has partly allowed the On further appeal, the Ld. CIT(A) has partly allowed the On further appeal, the Ld. CIT(A) has partly allowed the appeal. 4. Aggrieved, the Revenue is Aggrieved, the Revenue is in appeal before the Tribunal by in appeal before the Tribunal

GENERAL REINSURANCE AG,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX (INTERNATONAL TAXATION)-RANGE 2(3)(2), MUMBAI

115B of the Act.\n15. Without prejudice to Ground No. 1, 12, 13 and 14 above, the learned AO has\non the facts and circumstances of the case, erred in levying tax at the rate of 40\nper cent on profits computed in accordance with the provisions of section 115JB\nof the Act.\n16. Without prejudice to Ground

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)

115B.” 68 I.T.A. No. 384 & 632/Mum/2015 ICICI Prudential Life Insurance Company Ltd 6.2 Following the earlier order of this Tribunal we do not find any error or illegality in the impugned order of the ld. CIT(A) and decide this issue against the revenue and in favour of the assessee. 7. Ground No.8 is regarding the claim of 100% depreciation

GENERAL REINSURANCE AG,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX (INTERNATONAL TAXATION)-RANGE 2(3)(2), MUMBAI

In the result, all the four appeals of the assessee are partly\nallowed

115B of the Act.\n15. Without prejudice to Ground No. 1, 12, 13 and 14 above, the learned AO has\non the facts and circumstances of the case, erred in levying tax at the rate of 40\nper cent on profits computed in accordance with the provisions of section 115JB\nof the Act.\n16. Without prejudice to Ground

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

In the result, the appeal filed by the assessee stands partly allowed for statistical purpose

Bench: Smt. Beena Pillai () & Shri Omkareshwar Chidara ()

Section 115B of the Income-tax Act, 1961.” Brief facts of the case are as under: 2. The assessee is a Corporation established under the Life Insurance Corporation Act, 1956, filed its return of income for the year under consideration on 27.11.2014, declaring total income of Rs. 25,036,12,03,246/-. The return was processed

DCIT 3(2)(2), MUMBAI vs. KDA ENTERPRISES P.LTD, MUMBAI

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

115B: The Hon'ble ITAT has discussed this issue from para 62 to 67 of their order. Their final conclusion is noted in para 68 which is reproduced below: '68. In view of the above discussion, assertions made by Ld. AR and DR if kept in juxtaposition of the observation of the AC vis- á-vis findings recorded

DCIT 3(2)(2), MUMBAI vs. KDA ENTERPRISES P.LTD, MUMBAI

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

115B: The Hon'ble ITAT has discussed this issue from para 62 to 67 of their order. Their final conclusion is noted in para 68 which is reproduced below: '68. In view of the above discussion, assertions made by Ld. AR and DR if kept in juxtaposition of the observation of the AC vis- á-vis findings recorded

GENERAL REINSURANCE AG,MUMBAI vs. ASSISTANT COMM. OF INCOME TAX (INTERNATIONAL TAXATION)-RANGE 2(3)(2), MUMBAI

In the result, all the four appeals of the assessee are partly\nallowed

115B of the Act.\n15. Without prejudice to Ground No. 1, 12, 13 and 14 above, the learned AO has\non the facts and circumstances of the case, erred in levying tax at the rate of 40\nper cent on profits computed in accordance with the provisions of section 115.JB\nof the Act.\n16. Without prejudice to Ground

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. 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. 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

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