M/s. Royal Sundaram General Insurance Co. Ltd. v. The DCIT, Large Taxpayer Unit, Chennai
Case No: ITA Nos.88, 89 & 91/Chny/2018
Court: Income Tax Appellate Tribunal ‘D’ Bench: Chennai
Date: 1/2/2026
Parties Involved
appellantM/s. Royal Sundaram General Insurance Co. Ltd.
respondentThe DCIT, Large Taxpayer Unit, Chennai
Facts Summary
The case involves appeals by M/s. Royal Sundaram General Insurance Co. Ltd. against the orders of the Learned Commissioner of Income Tax (Appeals)-17, Chennai, for the Assessment Years 2010-11 to 2012-13. The assessee raised two main issues: the non-applicability of Section 115JB of the Income Tax Act, 1961, to insurance companies, and the disallowance of premium in respect of long-term policies. The assessee argued that Section 115JB, which allows companies to compute book profit, is not applic…
Decision in favour of
Assessee
Legal Issues
- 1. Non-applicability of Section 115JB of the Income Tax Act, 1961, to insurance companies.
- 2. Disallowance of premium in respect of long-term policy for AY 2010-11, 2011-12 & 2012-13.
Precedents Relied Upon
7 precedents cited in this judgement.