INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “G”: NEW DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI M. BALAGANESH, ACCOUNTANT MEMBER (Assessment Year: 2006-07)

M/s. The Oriental Insurance Co. Ltd, Vs. The ACIT, A 25/27, Asaf Ali Road, New Delhi- Circle-16(1), 110003 New Delhi (Appellant) (Respondent)

PAN: AAACT0627R Assessee by : Shri Tarandeep Singh, Adv Revenue by: Shri Mahesh Kumar, CIT (DR)

Date of Hearing 19/05/2025 Date of pronouncement 14/08/2025 O R D E R PER M. BALAGANESH, A. M.:

1. The appeal in ITA No.2492/Del/2017 for AY 2006-07, arises out of the ld. Commissioner of Income Tax (Appeals)-22, New Delhi [hereinafter referred to as „ld. CIT(A)‟, in short] in Appeal No. 09/09-10/CIT(A)-222, New Delhi dated 01.03.2017 against the order of assessment passed u/s 143(3) of the Income- tax Act, 1961 (hereinafter referred to as „the Act‟) dated 03.12.2007 by the Assessing Officer, ACIT, Circle-16 (1), New Delhi (hereinafter referred to as „ld.

AO‟).

2. Ground Nos. 1 and 1.1 raised by the assessee are challenging the addition of ₹615,70,93,758/- made on account of profit on sale/ redemption of investment and by denying the benefit of exemption u/s 10(38) of the Act.

3. We have h