Payments to Insurance Aggregators Allowable as Business Expense: ITAT Mumbai

HDFC ERGO General Insurance Company Ltd. Vs ACIT (ITAT Mumbai) Material Facts: The appeals comprised eleven appeals filed by both the assessee and the Revenue for Assessment Years 2010-11 to 2016-17 arising from a common order of the Commissioner of Income Tax (Appeals). In the assessee’s appeals, the common issue concerned disallowance of payments made to aggregators by invoking Explanation 1 to Section 37(1) of the Income-tax Act, 1961. AY 2014-15 was treated as the lead case. The assessee, engaged in the business of general insurance, had debited Rs.92,86,24,019 towards legal and pro...