THE NEW INDIA ASSURANCE CO LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 3(2)(2), MUMBAI

Accordingly, Ground No.1 to 4 raised by the Assessee are allowed

Bench: SHRI VIKRAM SINGH YADAV , ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

Section 37(1) of the Act.We have perused the aforesaid decision of the Tribunal in that case it was stated, during the assessment proceeding, the assessing officer noted that as per material available on record, the Director General of Central Excise Intelligence, Chennai Zone (DGCEI) had carried out investigation in respect of certain auto dealers and intermediaries. In course

DCIT 3.2.1, MUMBAI vs. THE NEW INDIA ASSURANCE CO LIMITED, MUMBAI

Accordingly, Ground No.1 to 4 raised by the Assessee are allowed

Bench: SHRI VIKRAM SINGH YADAV , ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

Section 37(1) of the Act.We have perused the aforesaid decision of the Tribunal in that case it was stated, during the assessment proceeding, the assessing officer noted that as per material available on record, the Director General of Central Excise Intelligence, Chennai Zone (DGCEI) had carried out investigation in respect of certain auto dealers and intermediaries. In course

DCIT 3.2.1, MUMBAI vs. THE NEW INDIA ASSURANCE CO LIMITED, MUMBAI

Section 147 of the Act was disposed off \nas partly allowed. Assessee has also filed Cross Objection (C.O. \nNo.97/Mum/2024) in Revenue’s Appeal.\nITA No.2845/Mum/2024 [Revenue’s Appeal]\n67. The Revenue has raised three grounds of appeal in ITA No. \n2845/Mum/2024 which are taken up hereinafter in seriatim.\nGround No.1\n68. Ground No. 1 raised by the Revenue reads

THE NEW INDIA ASSURANCE CO. LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(2)(2), MUMBAI

Section 37(1) of the Act would not\napply. In this context, we respectfully agree with the\nobservations made by the coordinate Bench in case of\nMilestone Real Estate Fund (Supra). Pertinently, in case of\nM/s Cholamandalam MS General Insurance Co. Ltd. [2025]\n174 taxmann.com 603 (Mad.), identical issue of\ndisallowance of payment made to motor vehicle dealers\nu/s.37

THE NEW INDIA ASSURANCE CO. LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -3(2)(2), MUMBAI

sections 30 to 43A and,\ntherefore, unless there was a specific\nprohibition for such an allowance, the\ndepartmental authorities would not be\njustified in. adding back the amount under\nrule 5(a), Therefore, even if the debit for\namortization is considered as an\nexpenditure, there is no specific prohibition\nagainst allowing such an expenditure\nunder the provisions of sections

DCIT 3.2.1, MUMBAI vs. THE NEW INDIA ASSURANCE CO LIMITED, MUMBAI

147 \nof the Act was partly allowed. \n152. The Assessee has raised 4 grounds of appeal. We would first \ntake up Ground No. 2 to 4 raised by the Assessee dealing with \nthe merits of the disallowance/additions made by the Assessing \nOfficer \nGround No.2 to 4: \n153. Ground No.2 to 4 pertaining to disallowance made in respect of \npayments made

DCIT- CIR- 6(3)(1), MUMBAI vs. IMPERIAL PROCUREMENT SERVICES PVT. LTD., MUMBAI

In the result, the appeal of Revenue is dismissed

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

TDS income. The assessee before CIT(A) challenged the validity of reopening of assessment under section 147 read with section

JAMNADAS VIRJI SHARES AND STOCK BROKERS PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX 4(3)(1), MUMBAI

TDS, although appearing in Form 26AS\nand granted credit for in the intimation under section 143(1).\n13. The AO erred in levying interest under section 234A of Rs.\n11,055/- and CIT(A) erred in confirming the same.\n14. The AO erred in levying interest under section 234B of Rs.\n96,480/- and under section 234D