2019 (8) TMI 1803
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.....K.Billimoria, Ms.Sannaya Ghandhi i/b M/s.Desai & Chinoy ORDER P.C.: This Appeal under section 260-A of the Income Tax Act 1961(the 'Act'), challenges the order dated 4 December 2015 passed by the Income Tax Appellate Tribunal, Mumbai ('Tribunal'). This Appeal relates to Assessment Year 2005-06. 2. The Appellant-Revenue urges the following questions of law for our consideration : "(i) Whethe....
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....s of sec 14A of the IT Act is not applicable to assessee as income of the assesse company assessed u/s 44 of the IT Act ? (iv) Whether on the facts and in the circumstances of the case and in law the Tribunal was justified in holding that the amortized amount of the premium on investments amounting to Rs. 2,23,48,000/- cannot added back to the balance of the profits as there is no specific prohi....
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.... in the circumstances of the case, and in law the Tribunal was correct in confirming that the reinsurance commission of Rs. 1,31,42,834/- is allowable under the provisions of sec- 40(a)(ia) and does not require to deduct TDS on such payments ?" 3. Regarding Question no. (i). (i) It is an admitted position between the parties that this issue was urged by Revenue in Income Tax Appeal No.528 of 201....
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....e upon order dated 29 October 2010 of its Coordinate Bench relating to Assessment Year 2005-06 to 2008-09 on the same issue. It also placed reliance upon the decision of its Coordinate Bench in the case of General Insurance Corpn. of India v. Asstt. CIT [2009] 28 SOT 453 (Mum.) as the same issue is decided in favour of the Respondent herein. (ii). Mr.Suresh Kumar, learned counsel appearing for th....