आयकर अपीलीय अिधकरण, ‘ए’ (cid:1)यायपीठ, चे(cid:9)ई।

IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH: CHENNAI (cid:1)ी एबी टी. वक(cid:10), (cid:11)ाियक सद(cid:17) एव ं

(cid:1)ी मनोज कु मार अtiवाल, लेखा सद(cid:7) के सम(cid:29)

BEFORE SHRI ABY T. VARKEY, JUDICIAL MEMBER AND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.1282, 1283, 1284 & 1285/Chny/2024 िनधा(cid:14)रण वष(cid:14)/Assessment Years: 2011-12, 2016-17, 2017-18 & 2018-19 M/s. Cholamandalam MS General- v. The DCIT, Insurance Co. Ltd., Non Corporate Circle-8, Dare House, 2^nd Floor, Chennai.

No.2, N.S.C. Bose Road, Chennai-600 001.

[PAN: AABCC 6633 K (अपीलाथ(cid:22)/Appellant) ((cid:23)(cid:24)यथ(cid:22)/Respondent) आयकर अपील सं./ITA Nos.470, 1339, 1438, 1462 & 1463/Chny/2024 िनधा(cid:14)रण वष(cid:14)/Assessment Years: 2012-13, 2018-19, 2011-12, 2016-17 &

2017-18 The DCIT, v. M/s. Cholamandalam MS Non Corporate Circle-8, General Insurance Co. Ltd., Chennai. Dare House, 2^nd Floor, No.2, N.S.C. Bose Road, Chennai-600 001.

[PAN: AABCC 6633 K (अपीलाथ(cid:22)/Appellant) ((cid:23)(cid:24)यथ(cid:22)/Respondent) Assessee by : Mr. Sandeep Bagmar, Advocate;

Mr. Balachandar, FCA Department by : Mr. Nilay Baran Som, CIT सुनवाईक(cid:28)तारीख/Date of Hearing : 22.01.2025 घोषणाक(cid:28)तारीख /Date of Pronouncement : 19.03.2025 (AYs 2012-13, 2018-19, 2011-12, 2016-17 & 2017-18)

M/s. Cholamandalam MS – General Insurance Co. Ltd.

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आदशे / O R D E R PER ABY T. VARKEY, JM:

These are cross appeals preferred by the assessee as well as the Revenue against the respective assessment year orders of the Learned Commissioner of Income Tax (Appeals)/NFAC, (hereinafter referred to as ‘Ld.CIT(A)‘), Delhi, dated 07.03.2024 for the Assessment Years (hereinafter referred to as ‘AY‘) 2011-12, 2012-13, 2016-17, 2017-18 &

2018-19.

2. Both sides agreed that except one issue i.e. issue regarding refund of excess Dividend Distribution Tax (DDT) paid over and above the Double Taxation Avoidance Agreement (DTAA) rate, all the other issues are arising in the appeal for AY 2012-13 i.e. department appeal against the order of the Ld.CIT(A) dated 29.12.2023 which is taken as the lead case for all the aforesaid assessment years [as well as issue in respect of book- profit u/s.115JB of the Act post amendment AY 2012-13] and the decision of which will be followed mutatis mutandis for the issues permeating in the assessment years shown above.

3. Grounds of appeal raised by the Revenue in ITA No.470/Chny/2024 for AY 2012-13 are as under:

(AYs 2012-13, 2018-19, 2011-12, 2016-17 & 2017-18)

M/s. Cholamandalam MS – General Insurance Co. Ltd.

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1. The order of the learned Commissioner of Income Tax (Appeals) in ITA No.ITBA/APL/S/250/2023-24/159204840(1)dated 29/12/2023 for the Assessment year 2014-15 is erroneous in law, facts and circumstances of the case.

2. The learned Commissioner of Income Tax (Appeals) erred in deleting the disallowance made in respect of reinsurance premium to non-resident reinsurers (NRRI) without deducting tax at source without appreciating that as per sub section 2 of 195 the assessee was required to make an application to the AO for non deduction which was not done.

3. The learned CIT(A) has erred in allowing the depreciation @60% on UPS by treating them as part of computer, without appreciating that the AO had rightly allowed depreciation @ 15% by treating it as part of any General Plant and Machinery equipment operated through Command or Software.

4. The learned Commissioner of Income Tax (Appeals) erred in deleting the addition of Rs. 30,51,684/-u/s 14A without appreciating that the AO had established that certain expenditure would have been incurred for earning the exempt income and therefore rightly computed the disallowance applying Rule

80.

5. The learned Commissioner of Income Tax (Appeals) erred in deleting the disallowance of Rs.71,63,000/- representing the provision made for IBNR and IBNER claims without appreciating that the assessee had failed to establish that this provision was m