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Axa France Vie, Delhi vs Acit, Circle Int. Taxation 1(1)(1), ... on 13 May, 2022 cites

Dcit Corporate Circle 3(2) , Chennai vs United India Insurance Co. Ltd. , ... on 28 August, 2018

The Assessing Officer was of the opinion that a reading of provisions of 11 ITA NO.439/DEL/2022 & SA No.112/Del/2022 AXA France Vie section 194D provides that TDS has to be deducted where any sum is paid for soliciting or procuring insurance business. But as per the facts of the present case, the cedant commission paid by the assessee to the insurance company is actually the share of assessee in the nature of manpower cost, third party administration cost, administration cost, etc. which are actually reimbursement of expenses in relation to the gross premium which the assessee company has received in this regard, so ceading commission cannot be considered to be paid for soliciting or procuring insurance business. Identical issue was considered by the Hon'ble Madras High Court in the case of M/s Royal Sundaram Alliance Insurance Company Limited (supra) wherein it was held as under:-
Income Tax Appellate Tribunal - Chennai Cites 31 - Cited by 7 - Full Document

Dy Cit - 8(3)(1), Mumbai vs M/S Tata Aig General Insurance Co.Ltd., ... on 8 March, 2022

He further submitted that the aforesaid order of ITAT was confirmed by the Hon'ble Bombay High Court in the same assessee's case Principal commissioner of Income-tax Vs Tata AIG General Insurance Co. Ltd. [2019] 111 taxmann.com 92 (Bombay). Furthermore, the ld. Counsel for the assessee pleaded that since it is reimbursement of expenses, the decision of the Hon'ble Supreme Court in the case of DIT(IT)-1 vs Moller Maersk (TS-70-SC-2017) supports the assessee plea that no TDS was required. The ld. Counsel for the assessee referred certain other Tribunal's decisions in this regard. The ld. Counsel for the assessee further submitted that the decision referred by the DRP from ITAT Chennai is not applicable to the facts of the case. The ld. Counsel for the assessee further submitted that apart from the above submission, proviso to section 201(1) also supports the case of the assessee. It provides that the assessee shall not be deemed to be assessee in default if the payee has paid the tax due on income declared in the return of income and the assessee has furnished a certificate in this regard. The ld. counsel for the assessee submitted that the Chartered Accountant's certificate from two of the issuance companies are available and placed on record in support of the propositions that the payees have paid the tax due on the income declared. Except for payment of Rs.23,59,09,327/-to New India Assurance Company Limited others are accompanied by certificate as above.
Income Tax Appellate Tribunal - Mumbai Cites 11 - Cited by 1 - Full Document
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