CIT v. Kotak Securities Ltd.

383 ITR 1Supreme Court of India2016#451 most cited

What is CIT v. Kotak Securities Ltd. authority for?

Fees for technical services under Section 9(1)(vii) can include payments for fully automated services even without direct human interface, as modern technological developments blur the specific human element in such processes.

203

judgments rely on this decision, according to BharatTax’s citation analysis of 367,368 Indian tax judgments — from 2016 to 2025.

Also referred to as

CIT v. Kotak Securities Ltd. · section 9(1)(vii) · fees for technical services · FTS · automated services · human interface · section 40(a)(ia) disallowance · make available condition · DTAA · software

Also reported as

67 Taxmann.com 356239 Taxmann 139

Sections most often in play

Section 9(1)(vii)Section 143(3)Section 40(a)(ia)Section 194JSection 144C(3)Section 40(a)(i)Section 37Section 115JB
Read the full judgment

Issues it is cited on

section 194jsection 9(1)(vii)section 194hsection 40a(ia)fees for technical servicesdisallowance under section 40(a)(ia)section 92ca(1)section 9(1)section 90(2)section 9(1)(vi)section 194tested party

Judgments citing CIT v. Kotak Securities Ltd.

DCIT, New Delhi vs. M/S. Deloitte Touche Tohmastu, Gurgaon

ITA 530/DEL/2016[2011-12]Status: DisposedITAT Delhi11 Apr 2022AY 2011-12

Bench: Sh. R. K. Panda & Sh. Anubhav Sharmaita No.6703/Del/2015, A.Y. 2008-09 Ita No.5760/Del/2015, A.Y. 2009-10 Ita No.5759/Del/2015, A.Y. 2010-11 Ita No.530/Del/2016, A.Y. 2011-12

…IN THE INCOME TAX APPELLATE TRIBUNALDELHI (DELHI BENCH ‘D’ : NEW DELHI) BEFORE SH. R. K. PANDA, ACCOUNTANT MEMBER AND SH. ANUBHAV SHARMA, JUDICIAL MEMBER ITA No.6703/Del/2015, A.Y. 2008-09 ITA No.5760/Del/2015, A.Y. 2009-10 ITA No.5759/Del/2015, A.Y. 2010-11 ITA No.530/Del/2016, A.Y. 2011-12 Dy. Commissioner of Income Vs. M/s. Deloitte Touche Tohmastu 7th Floor, Building No. 10 Tax, Circle – 1(2)(2), (Intl. Tax.) Tower-B, DLF Cyber City New Delhi Complex, DLF-Ph-II, Gurgaon, Haryana-122002 PAN : AADCD2358N (APPELLANT) (RESPONDENT) Cross Objection no. 182/Del/2016 , A.Y. 2011-12 (Arising Appeal No. 530/…

DCIT (International Taxation), New Delhi vs. M/S Deloitte Touche Tohmastu, Gurgaon

ITA 6703/DEL/2015[2008-09]Status: DisposedITAT Delhi11 Apr 2022AY 2008-09

Bench: Sh. R. K. Panda & Sh. Anubhav Sharmaita No.6703/Del/2015, A.Y. 2008-09 Ita No.5760/Del/2015, A.Y. 2009-10 Ita No.5759/Del/2015, A.Y. 2010-11 Ita No.530/Del/2016, A.Y. 2011-12

…IN THE INCOME TAX APPELLATE TRIBUNALDELHI (DELHI BENCH ‘D’ : NEW DELHI) BEFORE SH. R. K. PANDA, ACCOUNTANT MEMBER AND SH. ANUBHAV SHARMA, JUDICIAL MEMBER ITA No.6703/Del/2015, A.Y. 2008-09 ITA No.5760/Del/2015, A.Y. 2009-10 ITA No.5759/Del/2015, A.Y. 2010-11 ITA No.530/Del/2016, A.Y. 2011-12 Dy. Commissioner of Income Vs. M/s. Deloitte Touche Tohmastu 7th Floor, Building No. 10 Tax, Circle – 1(2)(2), (Intl. Tax.) Tower-B, DLF Cyber City New Delhi Complex, DLF-Ph-II, Gurgaon, Haryana-122002 PAN : AADCD2358N (APPELLANT) (RESPONDENT) Cross Objection no. 182/Del/2016 , A.Y. 2011-12 (Arising Appeal No. 530/…

DCIT, Intl. Taxation, New Delhi vs. Deloitte Touche Tohmastu, Gurgaon

ITA 5760/DEL/2015[2009-10]Status: DisposedITAT Delhi11 Apr 2022AY 2009-10

Bench: Sh. R. K. Panda & Sh. Anubhav Sharmaita No.6703/Del/2015, A.Y. 2008-09 Ita No.5760/Del/2015, A.Y. 2009-10 Ita No.5759/Del/2015, A.Y. 2010-11 Ita No.530/Del/2016, A.Y. 2011-12

…IN THE INCOME TAX APPELLATE TRIBUNALDELHI (DELHI BENCH ‘D’ : NEW DELHI) BEFORE SH. R. K. PANDA, ACCOUNTANT MEMBER AND SH. ANUBHAV SHARMA, JUDICIAL MEMBER ITA No.6703/Del/2015, A.Y. 2008-09 ITA No.5760/Del/2015, A.Y. 2009-10 ITA No.5759/Del/2015, A.Y. 2010-11 ITA No.530/Del/2016, A.Y. 2011-12 Dy. Commissioner of Income Vs. M/s. Deloitte Touche Tohmastu 7th Floor, Building No. 10 Tax, Circle – 1(2)(2), (Intl. Tax.) Tower-B, DLF Cyber City New Delhi Complex, DLF-Ph-II, Gurgaon, Haryana-122002 PAN : AADCD2358N (APPELLANT) (RESPONDENT) Cross Objection no. 182/Del/2016 , A.Y. 2011-12 (Arising Appeal No. 530/…

DCIT, Intl. Taxation, New Delhi vs. Deloitte Touche Tohmastu, Gurgaon

ITA 5759/DEL/2015[2010-11]Status: DisposedITAT Delhi11 Apr 2022AY 2010-11

Bench: Sh. R. K. Panda & Sh. Anubhav Sharmaita No.6703/Del/2015, A.Y. 2008-09 Ita No.5760/Del/2015, A.Y. 2009-10 Ita No.5759/Del/2015, A.Y. 2010-11 Ita No.530/Del/2016, A.Y. 2011-12

…IN THE INCOME TAX APPELLATE TRIBUNALDELHI (DELHI BENCH ‘D’ : NEW DELHI) BEFORE SH. R. K. PANDA, ACCOUNTANT MEMBER AND SH. ANUBHAV SHARMA, JUDICIAL MEMBER ITA No.6703/Del/2015, A.Y. 2008-09 ITA No.5760/Del/2015, A.Y. 2009-10 ITA No.5759/Del/2015, A.Y. 2010-11 ITA No.530/Del/2016, A.Y. 2011-12 Dy. Commissioner of Income Vs. M/s. Deloitte Touche Tohmastu 7th Floor, Building No. 10 Tax, Circle – 1(2)(2), (Intl. Tax.) Tower-B, DLF Cyber City New Delhi Complex, DLF-Ph-II, Gurgaon, Haryana-122002 PAN : AADCD2358N (APPELLANT) (RESPONDENT) Cross Objection no. 182/Del/2016 , A.Y. 2011-12 (Arising Appeal No. 530/…

Joint Commissioner of Income Tax, Ltu, Bengaluru vs. M/S. Vijaya Bank, Bengaluru

In the result, the appeal filed by the Revenue is partly allowed for statistical purposes

ITA 1834/BANG/2018[2014-15]Status: DisposedITAT Bangalore11 Mar 2022AY 2014-15

Bench: Shri George George K & Ms. Padmavathy Sassessment Year : 2014-15

For Appellant: Shri Ananthan, C.A &For Respondent: Shri Pradeep Kumar, CIT(DR)
Section 115JSection 143(3)Section 234DSection 36(1)(vii)Section 36(1)(viia)Section 36(2)(v)Section 37(1)(vii)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH : BANGALORE BEFORE SHRI GEORGE GEORGE K, JUDICIAL MEMBER AND MS. PADMAVATHY S, ACCOUNTANT MEMBER Assessment year : 2014-15 The Jt. Commissioner of Vs. Bank of Baroda (previously known as M/s Income-tax (LTU), Vijaya Bank), Head Office Bengaluru. Central Accounts Dept., 41/2, M.G Road, Bengaluru-560 001. PAN – AAACV 4791 J APPELLANT RESPONDENT Assessment year : 2014-15 Bank of Baroda (previously known as Vs. The Jt. Commissioner of M/s Vijaya Bank), Head Office Income-tax (LTU), Central Accounts Dept., 41/2, M.G Road, Bengaluru. Bengaluru-560 001. PAN – AAACV 47…

Renaissance Services Bv, Mumbai vs. DDIT (It) 2(1), Mumbai

In the result, appeal of the assessee for A

ITA 5677/MUM/2016[2010-11]Status: DisposedITAT Mumbai24 Feb 2022AY 2010-11
Section 143(3)

…observed that consideration received by the assessee for providing access to reservation system could not be brought to tax as FTS in the hands of the assessee. We further find that the Hon'ble Supreme Court in the case of CIT vs. Kotak Securities Ltd. (2016) 383 ITR 1 (SC) had in the backdrop of the facts involved in the case before it, had observed that services made available by Bombay Stock Exchange [BSE Online Trading (BOLT) System] for which transaction charges were paid by members of BSE were for common services that every member of Stock Exchange was necessarily required to avail of to carry out trading i…

M/S. Vijaya Bank, Bangalore vs. Joint Commissioner of Income Tax, Ltu, Bangalore

In the result, the appeal filed by the assessee is treated as allowed for statistical purposes

ITA 1838/BANG/2018[2013-14]Status: DisposedITAT Bangalore28 Dec 2021AY 2013-14

Bench: Shri George George K. & Shri B.R. Baskaranassessment Year : 2013-14

For Appellant: Shri S. Ananthan, A.RFor Respondent: Shri Pradeep Kumar, D.R
Section 115JSection 143(3)Section 14ASection 194JSection 36(1)(vii)Section 36(1)(viia)Section 40

…ITA Nos.1833 & 1838/Bang/2018 M/s. Bank of Baroda, Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “C’’ BENCH: BANGALORE BEFORE SHRI GEORGE GEORGE K., JUDICIAL MEMBER AND SHRI B.R. BASKARAN, ACCOUNTANT MEMBER Assessment Year : 2013-14 M/s. Bank of Baroda (Erstwhile M/s. Vijaya Bank) Head Office Central Accounts Department JCIT (LTU 41/2, M.G. Road Vs. Bangalore Trinity Circle Bangalore 560 001 PAN NO : AAACV4791J APPELLANT RESPONDENT Assessment Year : 2013-14 M/s. Bank of Baroda (Previously known as M/s. Vijaya Bank) JCIT (Large Tax Head Office Central Accounts Department Payers Unit) Vs. 41/2, M.G. Road B…

Joint Commissioner of Income Tax, Ltu, Bengaluru vs. M/S. Vijaya Bank, Bengaluru

In the result, the appeal filed by the assessee is treated as allowed for statistical purposes

ITA 1833/BANG/2018[2013-14]Status: DisposedITAT Bangalore28 Dec 2021AY 2013-14

Bench: Shri George George K. & Shri B.R. Baskaranassessment Year : 2013-14

For Appellant: Shri S. Ananthan, A.RFor Respondent: Shri Pradeep Kumar, D.R
Section 115JSection 143(3)Section 14ASection 194JSection 36(1)(vii)Section 36(1)(viia)Section 40

…ITA Nos.1833 & 1838/Bang/2018 M/s. Bank of Baroda, Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “C’’ BENCH: BANGALORE BEFORE SHRI GEORGE GEORGE K., JUDICIAL MEMBER AND SHRI B.R. BASKARAN, ACCOUNTANT MEMBER Assessment Year : 2013-14 M/s. Bank of Baroda (Erstwhile M/s. Vijaya Bank) Head Office Central Accounts Department JCIT (LTU 41/2, M.G. Road Vs. Bangalore Trinity Circle Bangalore 560 001 PAN NO : AAACV4791J APPELLANT RESPONDENT Assessment Year : 2013-14 M/s. Bank of Baroda (Previously known as M/s. Vijaya Bank) JCIT (Large Tax Head Office Central Accounts Department Payers Unit) Vs. 41/2, M.G. Road B…

The Karnataka Bank Ltd, Mangalore vs. Deputy Commissioner of Income Tax, Circle-2(1), Mangalore

In the result, the appeal filed by the assessee is treated as allowed and the appeal of the revenue is treated as partly allowed for statistical purposes

ITA 1906/BANG/2018[2013-14]Status: DisposedITAT Bangalore27 Dec 2021AY 2013-14

Bench: Shri George George K. & Shri B.R. Baskaranassessment Year : 2013-14

For Appellant: Shri Ananthan & Smt. R. Lalitha, A.RsFor Respondent: Shri Sumer Singh Meena, D.R
Section 115JSection 143(3)Section 14ASection 36(1)(vii)Section 36(1)(viia)Section 40

…d or debit card commission for transaction ben-: the merchant establishment and the acquirer bank. 2. This notification shall come into force from the 1st day of- January, 2013. Furthermore, the Hon'ble Supreme Coup in the case of Kotak Securities Management 383 ITR 1 held that consultancy managerial services involving services rendered by human efforts where services are made available to all customers and there is nothing special, exclusive or customer service charges, it does not partake of the character of managerial or technical services. In the light of this decision we hold that the assessee-bank is not l…

M/S. Edelweiss Broking Limited, Ahmedabad vs. The DCIT, Circle-1(3), Ahmedabad

Appeal of the Revenue is dismissed whereas the ground of appeal of the assessee is allowed

ITA 2021/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad26 Oct 2021AY 2013-14

Bench: Shri Mahavir Prasad & Shri Wassem Ahmedआयकर अपील सं./I.T.A. No. 2021/Ahd/2017 ("नधा"रण वष" / Assessment Year: 2013-14) M/S. Edelweiss Broking Ltd. Dcit बनाम/ (On Behalf Of Amalgamating Cricle-1(3), Vs. 1St Floor, B-109, Company, Edelweiss Financial Advisors Ltd.) Pratyaksh Kar Bhavan, Nr. 801-804, 8Th Floor, Abhishree Panjrapole, Ambawadi, Avenue, Opp. Hanumanji Ahmedabad-380015 Temple, Nehrunagar, Ambawadi, Ahmedabad- 380015 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabce9421H .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

For Respondent: Shri Vartik Chokshi, AR
Section 40

…exchange rendering any technical services to the assessee. The provisions of Section 194J were, thus, not attracted. In holding so we draw support and guidance from the judgment Hon’ble Supreme Court in the case of CIT versus Kotak Securities Ltd reported in 67 Taxmann.com 356 wherein it was held as under: “9. There is yet another aspect of the matter which, in our considered view, would require a specific notice. The service made available by the Bombay Stock Exchange [BSE Online Trading (BOLT) System] for which the charges in question had been paid by the appellant – assessee are common services that every me…

DCIT, Circle-1(3), Ahmedabad vs. Edelweiss Broking Ltd.(on Behalf of Amalgamating Company Edelweiss Financial Advisors Ltd.), Ahmedabad

Appeal of the Revenue is dismissed whereas the ground of appeal of the assessee is allowed

ITA 1939/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad26 Oct 2021AY 2013-14

Bench: Shri Mahavir Prasad & Shri Wassem Ahmedआयकर अपील सं./I.T.A. No. 2021/Ahd/2017 ("नधा"रण वष" / Assessment Year: 2013-14) M/S. Edelweiss Broking Ltd. Dcit बनाम/ (On Behalf Of Amalgamating Cricle-1(3), Vs. 1St Floor, B-109, Company, Edelweiss Financial Advisors Ltd.) Pratyaksh Kar Bhavan, Nr. 801-804, 8Th Floor, Abhishree Panjrapole, Ambawadi, Avenue, Opp. Hanumanji Ahmedabad-380015 Temple, Nehrunagar, Ambawadi, Ahmedabad- 380015 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabce9421H .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

For Respondent: Shri Vartik Chokshi, AR
Section 40

…exchange rendering any technical services to the assessee. The provisions of Section 194J were, thus, not attracted. In holding so we draw support and guidance from the judgment Hon’ble Supreme Court in the case of CIT versus Kotak Securities Ltd reported in 67 Taxmann.com 356 wherein it was held as under: “9. There is yet another aspect of the matter which, in our considered view, would require a specific notice. The service made available by the Bombay Stock Exchange [BSE Online Trading (BOLT) System] for which the charges in question had been paid by the appellant – assessee are common services that every me…

M/S. Hitachi Metglas (India) Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee is allowed

ITA 3694/DEL/2016[2011-12]Status: DisposedITAT Delhi13 Oct 2021AY 2011-12

Bench: Sh. Kul Bharatdr. B. R. R. Kumar(Through Video Conferencing) Ita No. 3694/Del/2016 : Asstt. Year : 2011-12 M/S Hitachi Metglas (India) Pvt. Ltd., Vs Dcit, (Now Merged With Hitachi Metals India Circle-11(2), Pvt. Ltd.), 1C, Vandana Building, 11, New Delhi-110002 Tolstoy Marg, Connaught Place, New Delhi-110001 (Appellant) (Respondent) Pan No. Aabch9302G Assessee By : Sh. Himanshu Sinha, Adv. Revenue By : Sh. Farhat Khan, Sr. Dr Date Of Hearing: 29.07.2021 Date Of Pronouncement: 13.10.2021

For Appellant: Sh. Himanshu Sinha, AdvFor Respondent: Sh. Farhat Khan, Sr. DR
Section 195Section 271(1)(c)Section 4Section 40Section 5Section 8Section 9(1)Section 9(1)(vii)Section 92C

…glas ((India) Pvt. Ltd. it a mere collection of fee for use of standard facility provided to all those willing to pay for it. 16. Reliance in this regard is placed on the ruling of the Hon’ble Supreme Court in the case of CIT vs. Kotak Securities Ltd. [2016] 383 ITR 1 (SC) wherein it was held that common or standard services provided to every member who wants to trade on the stock exchange cannot be termed as fee for technical service under Explanation 2 to section 9(1)(vii) of the IT Act(para 9). 17. In the ruling of CIT vs. Media World Wide (P.) Ltd. 120 taxmann.com 423, the Hon’ble Calcutta High Court observ…

Vodafone Idea Ltd, New Delhi vs. ITO (TDS), Karnal

The appeals of the Assessee are allowed

ITA 2467/DEL/2019[2011-12]Status: DisposedITAT Delhi20 Jan 2021AY 2011-12

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: Shri Deepak Chopra, Adv. & MsFor Respondent: Ms. Sulekha Verma, CIT-DR
Section 194HSection 201Section 201(1)

…T Vs. Vodafone Essar Digilink Ltd. (2018) (52 CCH 181) (Del.). The Ld. Counsel for the 28 I.T.As. No. 118, 119, 120, 2466, 2467/DEL/2019 assessee also relied on the decision of the Hon’ble Supreme Court in the case of CIT Vs. Kotak Securities Limited (2016) (383 ITR 1), the case of Vodafone Digilink Limited Vs. CIT (TDS) Chandigarh (167 ITD 679), the judgment of the Bombay Bench in the case of Reliance Communication Limited Vs. ACIT (TDS) [(2016) 69 taxmann.com 307 (Mum-Trib)]. The Ld. Counsel submitted that both the issues now stand decided in favour of the Assessee where it was held that there was no obligatio…

Vodafone Idea Ltd, New Delhi vs. ITO (TDS), Karnal

The appeals of the Assessee are allowed

ITA 2466/DEL/2019[2010-11]Status: DisposedITAT Delhi20 Jan 2021AY 2010-11

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: Shri Deepak Chopra, Adv. & MsFor Respondent: Ms. Sulekha Verma, CIT-DR
Section 194HSection 201Section 201(1)

…T Vs. Vodafone Essar Digilink Ltd. (2018) (52 CCH 181) (Del.). The Ld. Counsel for the 28 I.T.As. No. 118, 119, 120, 2466, 2467/DEL/2019 assessee also relied on the decision of the Hon’ble Supreme Court in the case of CIT Vs. Kotak Securities Limited (2016) (383 ITR 1), the case of Vodafone Digilink Limited Vs. CIT (TDS) Chandigarh (167 ITD 679), the judgment of the Bombay Bench in the case of Reliance Communication Limited Vs. ACIT (TDS) [(2016) 69 taxmann.com 307 (Mum-Trib)]. The Ld. Counsel submitted that both the issues now stand decided in favour of the Assessee where it was held that there was no obligatio…

Vodafone Idea Ltd. (Earlier Knwon As Vodafone Mobile Services Ltd.), New Delhi vs. ITO, TDS, Karnal

The appeals of the Assessee are allowed

ITA 120/DEL/2019[2009-10]Status: DisposedITAT Delhi20 Jan 2021AY 2009-10

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: Shri Deepak Chopra, Adv. & MsFor Respondent: Ms. Sulekha Verma, CIT-DR
Section 194HSection 201Section 201(1)

…T Vs. Vodafone Essar Digilink Ltd. (2018) (52 CCH 181) (Del.). The Ld. Counsel for the 28 I.T.As. No. 118, 119, 120, 2466, 2467/DEL/2019 assessee also relied on the decision of the Hon’ble Supreme Court in the case of CIT Vs. Kotak Securities Limited (2016) (383 ITR 1), the case of Vodafone Digilink Limited Vs. CIT (TDS) Chandigarh (167 ITD 679), the judgment of the Bombay Bench in the case of Reliance Communication Limited Vs. ACIT (TDS) [(2016) 69 taxmann.com 307 (Mum-Trib)]. The Ld. Counsel submitted that both the issues now stand decided in favour of the Assessee where it was held that there was no obligatio…

Vodafone Idea Ltd. (Earlier Knwon As Vodafone Mobile Services Ltd.), New Delhi vs. ITO, TDS, Karnal

The appeals of the Assessee are allowed

ITA 119/DEL/2019[2008-09]Status: DisposedITAT Delhi20 Jan 2021AY 2008-09

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: Shri Deepak Chopra, Adv. & MsFor Respondent: Ms. Sulekha Verma, CIT-DR
Section 194HSection 201Section 201(1)

…T Vs. Vodafone Essar Digilink Ltd. (2018) (52 CCH 181) (Del.). The Ld. Counsel for the 28 I.T.As. No. 118, 119, 120, 2466, 2467/DEL/2019 assessee also relied on the decision of the Hon’ble Supreme Court in the case of CIT Vs. Kotak Securities Limited (2016) (383 ITR 1), the case of Vodafone Digilink Limited Vs. CIT (TDS) Chandigarh (167 ITD 679), the judgment of the Bombay Bench in the case of Reliance Communication Limited Vs. ACIT (TDS) [(2016) 69 taxmann.com 307 (Mum-Trib)]. The Ld. Counsel submitted that both the issues now stand decided in favour of the Assessee where it was held that there was no obligatio…

Vodafone Idea Ltd. (Earlier Knwon As Vodafone Mobile Services Ltd.), New Delhi vs. ITO, TDS, Karnal

The appeals of the Assessee are allowed

ITA 118/DEL/2019[2007-08]Status: DisposedITAT Delhi20 Jan 2021AY 2007-08

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: Shri Deepak Chopra, Adv. & MsFor Respondent: Ms. Sulekha Verma, CIT-DR
Section 194HSection 201Section 201(1)

…T Vs. Vodafone Essar Digilink Ltd. (2018) (52 CCH 181) (Del.). The Ld. Counsel for the 28 I.T.As. No. 118, 119, 120, 2466, 2467/DEL/2019 assessee also relied on the decision of the Hon’ble Supreme Court in the case of CIT Vs. Kotak Securities Limited (2016) (383 ITR 1), the case of Vodafone Digilink Limited Vs. CIT (TDS) Chandigarh (167 ITD 679), the judgment of the Bombay Bench in the case of Reliance Communication Limited Vs. ACIT (TDS) [(2016) 69 taxmann.com 307 (Mum-Trib)]. The Ld. Counsel submitted that both the issues now stand decided in favour of the Assessee where it was held that there was no obligatio…

The Surat Peoples Co.Op.Bank Ltd., Surat vs. The Dy.CIT., (OSD)-II, Surat

In the result, ground no.2 is allowed for statistical purposes

ITA 957/AHD/2013[2009-10]Status: DisposedITAT Surat30 Dec 2020AY 2009-10

Bench: Shri Pawan Singh, Hon'Ble & Dr.Shri Arjun Lal Saini, Hon'Ble(Virtual Hearing) आ.अ.सं./I.T.A No.957/Ahd/2013 "नधा"रण वष"/Assessment Year: 2009-10 The Surat Peoples Co-Operative Bank Vs. The Asst. Commissioner Ltd., Of Income Tax, Circle-4, Surat. ‘Vasundhara Bahavan’, Timaliyawad, Nanpura, Surat – 395 001. [Pan: Aaaat 2885 P] अपीलाथ" / Appellant ""यथ"/Respondent

Section 5Section 6

…t of such charges. In support of his submissions, the ld.AR of the assessee relied upon the decision of Ahmedabad Tribunal in Karnavati Co- operative Bank Ltd. vs. Dy.CIT [2017] 17 Taxmann.com 239 (AHD) and Hon'ble Apex Court in CIT vs. Kotak Services Limited 383 ITR 1. 11. In alternative submission, the ld.AR of the assessee submits that the recipient of MICR charges i.e. SBI has included such charges in their income and had paid tax on such receipt. Once the recipient has offered such charges to the tax, 7 The Surat People’s Co-operative Bank Limited Vs. ACIT Circle-4, Surat. ITA No.957/AHD/2013 for A.Y. 2009-…

Clsa India Ltd, Mumbai vs. Addl CIT, Mumbai

In the result, appeal is partly allowed

ITA 8431/MUM/2010[2006-07]Status: DisposedITAT Mumbai14 Dec 2020AY 2006-07

Bench: Shri Pramod Kumar & Shri Saktijit Dey

For Appellant: Shri Porus Kaka a/wFor Respondent: Shri Anand Mohan
Section 143(3)Section 144C(13)Section 194JSection 40Section 9(1)(vii)

…IN THE INCOME TAX APPELLATE TRIBUNAL “K” BENCH, MUMBAI BEFORE SHRI PRAMOD KUMAR, VICE PRESIDENT AND SHRI SAKTIJIT DEY, JUDICIAL MEMBER ITA no.8431/Mum./2010 (Assessment Year : 2006–07) CLSA India Ltd. 8/F, Dalamal House ……………. Appellant Nariman Point, Mumbai 400 021 PAN – AAACC2262K v/s Addl. Commissioner of Income Tax ……………. Respondent Transfer Pricing–I(2), Mumbai Assessee by : Shri Porus Kaka a/w Shri Divesh Chawla Revenue by : Shri Anand Mohan Date of Hearing – 03.12.2020 Date of Order – 14.12.2020 O R D E R PER SAKTIJIT DEY. J.M. Captioned appeal has been filed by the assessee challenging the assessm…

The DCIT, Circle-1(3), Ahmedabad vs. Edelweiss Broking Ltd., Ahmedabad

In the result, the appeal filed by the Revenue is dismissed

ITA 446/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad01 Dec 2020AY 2012-13

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

For Respondent: Shri Dileep Kumar, Sr. DR
Section 143(3)Section 14ASection 32Section 36Section 36(2)Section 37Section 48Section 73

…exchange rendering any technical services to the assessee. The provisions of Section 194J were, thus, not attracted. In holding so we draw support and guidance from the judgment Hon’ble Supreme Court in the case of CIT versus Kotak Securities Ltd reported in 67 Taxmann.com 356 wherein it was held as under: “9. There is yet another aspect of the matter which, in our considered view, would require a specific notice. The service made available by the Bombay Stock Exchange [BSE Online Trading (BOLT) System] for which the charges in question had been paid by the appellant – assessee are common services that every me…