IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SHRI OMKARESHWAR CHIDARA, ACCOUNTANT MEMBER ITA No. 3827/MUM/2024 (Assessment Year: 2017-2018)

Deputy Commissioner of Income Tax Central Circle 5(3), Mumbai Room No. 426, Kautilya Bhawan, BKC road, Mumbai- 400051. Maharashtra …………. Appellant Indiafirst Life Insurance Company Vs Limited

12^th and 13^th Floor Building No. 4, Nesco IT Park Western Express Highway, Goregaon East S.O. Mumbai-400062 Maharashtra [PAN:AADCB6215G] …………. Respondent Appearance For the Appellant/Department : Shri R.A.Dhyani For the Respondent/Assessee : Shri Farookh Irani Date Conclusion of hearing : 06.02.2025 Pronouncement of order : 28.03.2025 O R D E R [

Per Rahul Chaudhary, Judicial Member:

1. The present appeal preferred by the Revenue is directed against the order, dated 08/05/2024, passed by the Commissioner of Income Tax CIT(A)-54, Mumbai [hereinafter referred to as ‘the CIT(A)’] under Section 250 of the Income Tax Act, 1961 [hereinafter referred to as ‘the Act’] whereby the Ld. CIT(A) had partly allowed the appeal against the Assessment Order, dated 21/11/2019, passed under Section 143(3) of the Act for the Assessm