IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JM &

MS PADMAVATHY S, AM I.T.A. No. 2594/Mum/2018 (Assessment Year: 2014-15)

The New India Assurance ACIT -3(2)(2), Company Ltd. , Aayakar Bhavan, M.K. Road, Central Accounts, Taxation Mumbai-400020.

Vs.

Department,, 87, M. G. Road, Fort, Mumbai-400001. PAN: AAACN4165C Appellant) : Respondent I.T.A. No. 3150/Mum/2018 (Assessment Year: 2014-15)

ACIT -3(2)(2), The New India Assurance Room No. 608, Aayakar Bhavan, Company Ltd. , M.K. Road, Mumbai-400020. Central Accounts, Taxation Vs.

Department,, 87, M. G. Road, Fort, Mumbai-400001. PAN: AAACN4165C Appellant) : Respondent Appellant /Assessee by : Shri Farooq Irani, AR Revenue / Respondent by : Shri Vivek Perampurna, CIT-DR Date of Hearing : 13.02.2025 Date of Pronouncement : 11.03.2025 O R D E R Per Padmavathy S, AM:

These cross appeals by the assessee and the revenue are against the order of Commissioner of Income Tax (Appeals)- 9, Mumbai [In short ‘the CIT(A)’] dated 15.03.2018 for Assessment Year (AY) 2014-15. The Assessee and the Revenue raised the following grounds of appeal:

Assessee’s Appeal “The under mentioned Grounds of Appeal are without prejudice to o