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 367,312 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.

ACIT, Mangalore vs. M/S Karnataka Bank Ltd., Mangalore

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

ITA 1265/BANG/2013[2011-12]Status: DisposedITAT Bangalore19 Jan 2018AY 2011-12

Bench: Shri Inturi Rama Rao & Shri Lalit Kumar

For Appellant: Shri A. Raghavendra Rao, CAFor Respondent: Shri R.K.Jha, CIT(DR)
Section 143(3)

…ents are made to National Financial Switch and Cash Tree Consortium. The charges are not liable for TDS in the light of the CBDT circular No.56 of 12 dated 31/12/2012 and the decision of the Honorable Supreme Court in the case of CIT vs. Kotak Securities Ltd.(383 ITR 1)(SC). 17.4 On the other hand, the learned CIT(DR) placed reliance on the orders of the lower authorities. 17.5 We heard rival submissions and perused the material on record. The only issue in the present grounds of appeal is whether the assessee Page 29 of 48 is liable for tax deduction at source on the charges paid to National Financial Switch a…

ACIT, Mangalore vs. M/S Karnataka Bank Ltd., Mangalore

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

ITA 1397/BANG/2012[2010-11]Status: DisposedITAT Bangalore19 Jan 2018AY 2010-11

Bench: Shri Inturi Rama Rao & Shri Lalit Kumar

For Appellant: Shri A. Raghavendra Rao, CAFor Respondent: Shri R.K.Jha, CIT(DR)
Section 143(3)

…ents are made to National Financial Switch and Cash Tree Consortium. The charges are not liable for TDS in the light of the CBDT circular No.56 of 12 dated 31/12/2012 and the decision of the Honorable Supreme Court in the case of CIT vs. Kotak Securities Ltd.(383 ITR 1)(SC). 17.4 On the other hand, the learned CIT(DR) placed reliance on the orders of the lower authorities. 17.5 We heard rival submissions and perused the material on record. The only issue in the present grounds of appeal is whether the assessee Page 29 of 48 is liable for tax deduction at source on the charges paid to National Financial Switch a…

ACIT, Mangalore vs. M/S Karnataka Bank Ltd., Mangalore

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

ITA 1396/BANG/2012[2009-10]Status: DisposedITAT Bangalore19 Jan 2018AY 2009-10

Bench: Shri Inturi Rama Rao & Shri Lalit Kumar

For Appellant: Shri A. Raghavendra Rao, CAFor Respondent: Shri R.K.Jha, CIT(DR)
Section 143(3)

…ents are made to National Financial Switch and Cash Tree Consortium. The charges are not liable for TDS in the light of the CBDT circular No.56 of 12 dated 31/12/2012 and the decision of the Honorable Supreme Court in the case of CIT vs. Kotak Securities Ltd.(383 ITR 1)(SC). 17.4 On the other hand, the learned CIT(DR) placed reliance on the orders of the lower authorities. 17.5 We heard rival submissions and perused the material on record. The only issue in the present grounds of appeal is whether the assessee Page 29 of 48 is liable for tax deduction at source on the charges paid to National Financial Switch a…

The Karnataka Bank Ltd., Mangalore vs. DCIT, Bangalore

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

ITA 1335/BANG/2012[2010-11]Status: DisposedITAT Bangalore19 Jan 2018AY 2010-11

Bench: Shri Inturi Rama Rao & Shri Lalit Kumar

For Appellant: Shri A. Raghavendra Rao, CAFor Respondent: Shri R.K.Jha, CIT(DR)
Section 143(3)

…ents are made to National Financial Switch and Cash Tree Consortium. The charges are not liable for TDS in the light of the CBDT circular No.56 of 12 dated 31/12/2012 and the decision of the Honorable Supreme Court in the case of CIT vs. Kotak Securities Ltd.(383 ITR 1)(SC). 17.4 On the other hand, the learned CIT(DR) placed reliance on the orders of the lower authorities. 17.5 We heard rival submissions and perused the material on record. The only issue in the present grounds of appeal is whether the assessee Page 29 of 48 is liable for tax deduction at source on the charges paid to National Financial Switch a…

The Karnataka Bank Ltd., Mangalore vs. DCIT, Bangalore

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

ITA 1334/BANG/2012[2009-10]Status: DisposedITAT Bangalore19 Jan 2018AY 2009-10

Bench: Shri Inturi Rama Rao & Shri Lalit Kumar

For Appellant: Shri A. Raghavendra Rao, CAFor Respondent: Shri R.K.Jha, CIT(DR)
Section 143(3)

…ents are made to National Financial Switch and Cash Tree Consortium. The charges are not liable for TDS in the light of the CBDT circular No.56 of 12 dated 31/12/2012 and the decision of the Honorable Supreme Court in the case of CIT vs. Kotak Securities Ltd.(383 ITR 1)(SC). 17.4 On the other hand, the learned CIT(DR) placed reliance on the orders of the lower authorities. 17.5 We heard rival submissions and perused the material on record. The only issue in the present grounds of appeal is whether the assessee Page 29 of 48 is liable for tax deduction at source on the charges paid to National Financial Switch a…

ACIT, Mangalore vs. M/S Karnataka Bank Ltd., Mangalore

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

ITA 753/BANG/2011[2008-09]Status: DisposedITAT Bangalore19 Jan 2018AY 2008-09

Bench: Shri Inturi Rama Rao & Shri Lalit Kumar

For Appellant: Shri A. Raghavendra Rao, CAFor Respondent: Shri R.K.Jha, CIT(DR)
Section 143(3)

…ents are made to National Financial Switch and Cash Tree Consortium. The charges are not liable for TDS in the light of the CBDT circular No.56 of 12 dated 31/12/2012 and the decision of the Honorable Supreme Court in the case of CIT vs. Kotak Securities Ltd.(383 ITR 1)(SC). 17.4 On the other hand, the learned CIT(DR) placed reliance on the orders of the lower authorities. 17.5 We heard rival submissions and perused the material on record. The only issue in the present grounds of appeal is whether the assessee Page 29 of 48 is liable for tax deduction at source on the charges paid to National Financial Switch a…

Vodafone Mobile Services Ltd., New Delhi vs. ITO, Karnal

In the result, all the 03 Appeals i

ITA 718/DEL/2017[2009-10]Status: DisposedITAT Delhi07 Nov 2017AY 2009-10

Bench: Shri H.S. Sidhu & Shri Prashant Maharishi

For Appellant: Sh. Salil Kapoor & Ms. Ananya KapoorFor Respondent: Sh. S.S. Rana, CIT(DR)
Section 194JSection 201Section 201(3)Section 250(6)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH "G", NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITA Nos. 3779, 3780 & 3781/Del/2013 Assessment Years: 2007-08, 2008-09 & 2009-10 VODAFONE DIGILINK LIMITED, VS. CIT(TDS), (FORMERLY VODAFONE ESSAR C.R. BUILDING, 2ND FLOOR, SECTOR-17, DIGILINK LIMITED) HARYANA CIRCLE, CHANDIGARH KUNJPURA ROAD, KARNAL, HARYANA (PAN: AAACA3202D) (APPELLANT) (RESPONDENT) Assessee by : Sh. Salil Kapoor & Ms. Ananya Kapoor, Advocates Department by : Sh. S.S. Rana, CIT(DR) AND ITA Nos. 716, 717, 718/Del/2017 Assessment Years:…

Vodafone Mobile Services Ltd., New Delhi vs. ITO, Karnal

In the result, all the 03 Appeals i

ITA 717/DEL/2017[2008-09]Status: DisposedITAT Delhi07 Nov 2017AY 2008-09

Bench: Shri H.S. Sidhu & Shri Prashant Maharishi

For Appellant: Sh. Salil Kapoor & Ms. Ananya KapoorFor Respondent: Sh. S.S. Rana, CIT(DR)
Section 194JSection 201Section 201(3)Section 250(6)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH "G", NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITA Nos. 3779, 3780 & 3781/Del/2013 Assessment Years: 2007-08, 2008-09 & 2009-10 VODAFONE DIGILINK LIMITED, VS. CIT(TDS), (FORMERLY VODAFONE ESSAR C.R. BUILDING, 2ND FLOOR, SECTOR-17, DIGILINK LIMITED) HARYANA CIRCLE, CHANDIGARH KUNJPURA ROAD, KARNAL, HARYANA (PAN: AAACA3202D) (APPELLANT) (RESPONDENT) Assessee by : Sh. Salil Kapoor & Ms. Ananya Kapoor, Advocates Department by : Sh. S.S. Rana, CIT(DR) AND ITA Nos. 716, 717, 718/Del/2017 Assessment Years:…

Vodafone Mobile Services Ltd., New Delhi vs. ITO, Karnal

In the result, all the 03 Appeals i

ITA 716/DEL/2017[2007-08]Status: DisposedITAT Delhi07 Nov 2017AY 2007-08

Bench: Shri H.S. Sidhu & Shri Prashant Maharishi

For Appellant: Sh. Salil Kapoor & Ms. Ananya KapoorFor Respondent: Sh. S.S. Rana, CIT(DR)
Section 194JSection 201Section 201(3)Section 250(6)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH "G", NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITA Nos. 3779, 3780 & 3781/Del/2013 Assessment Years: 2007-08, 2008-09 & 2009-10 VODAFONE DIGILINK LIMITED, VS. CIT(TDS), (FORMERLY VODAFONE ESSAR C.R. BUILDING, 2ND FLOOR, SECTOR-17, DIGILINK LIMITED) HARYANA CIRCLE, CHANDIGARH KUNJPURA ROAD, KARNAL, HARYANA (PAN: AAACA3202D) (APPELLANT) (RESPONDENT) Assessee by : Sh. Salil Kapoor & Ms. Ananya Kapoor, Advocates Department by : Sh. S.S. Rana, CIT(DR) AND ITA Nos. 716, 717, 718/Del/2017 Assessment Years:…

Sh. Vodafone Digilink Ltd., Karnal vs. CIT (TDS), Chandigarh

In the result, all the 03 Appeals i

ITA 3781/DEL/2013[2009-10 (F.Y. 2008-09)]Status: DisposedITAT Delhi07 Nov 2017

Bench: Shri H.S. Sidhu & Shri Prashant Maharishi

For Appellant: Sh. Salil Kapoor & Ms. Ananya KapoorFor Respondent: Sh. S.S. Rana, CIT(DR)
Section 194JSection 201Section 201(3)Section 250(6)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH "G", NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITA Nos. 3779, 3780 & 3781/Del/2013 Assessment Years: 2007-08, 2008-09 & 2009-10 VODAFONE DIGILINK LIMITED, VS. CIT(TDS), (FORMERLY VODAFONE ESSAR C.R. BUILDING, 2ND FLOOR, SECTOR-17, DIGILINK LIMITED) HARYANA CIRCLE, CHANDIGARH KUNJPURA ROAD, KARNAL, HARYANA (PAN: AAACA3202D) (APPELLANT) (RESPONDENT) Assessee by : Sh. Salil Kapoor & Ms. Ananya Kapoor, Advocates Department by : Sh. S.S. Rana, CIT(DR) AND ITA Nos. 716, 717, 718/Del/2017 Assessment Years:…

Sh. Vodafone Digilink Ltd., Karnal vs. CIT (TDS), Chandigarh

In the result, all the 03 Appeals i

ITA 3780/DEL/2013[2008-09 (F.Y. 2007- 08)]Status: DisposedITAT Delhi07 Nov 2017

Bench: Shri H.S. Sidhu & Shri Prashant Maharishi

For Appellant: Sh. Salil Kapoor & Ms. Ananya KapoorFor Respondent: Sh. S.S. Rana, CIT(DR)
Section 194JSection 201Section 201(3)Section 250(6)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH "G", NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITA Nos. 3779, 3780 & 3781/Del/2013 Assessment Years: 2007-08, 2008-09 & 2009-10 VODAFONE DIGILINK LIMITED, VS. CIT(TDS), (FORMERLY VODAFONE ESSAR C.R. BUILDING, 2ND FLOOR, SECTOR-17, DIGILINK LIMITED) HARYANA CIRCLE, CHANDIGARH KUNJPURA ROAD, KARNAL, HARYANA (PAN: AAACA3202D) (APPELLANT) (RESPONDENT) Assessee by : Sh. Salil Kapoor & Ms. Ananya Kapoor, Advocates Department by : Sh. S.S. Rana, CIT(DR) AND ITA Nos. 716, 717, 718/Del/2017 Assessment Years:…

Sh. Vodafone Digilink Ltd., Karnal vs. CIT (TDS), Chandigarh

In the result, all the 03 Appeals i

ITA 3779/DEL/2013[2007-08 (F.Y. 2006-07)]Status: DisposedITAT Delhi07 Nov 2017

Bench: Shri H.S. Sidhu & Shri Prashant Maharishi

For Appellant: Sh. Salil Kapoor & Ms. Ananya KapoorFor Respondent: Sh. S.S. Rana, CIT(DR)
Section 194JSection 201Section 201(3)Section 250(6)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH "G", NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITA Nos. 3779, 3780 & 3781/Del/2013 Assessment Years: 2007-08, 2008-09 & 2009-10 VODAFONE DIGILINK LIMITED, VS. CIT(TDS), (FORMERLY VODAFONE ESSAR C.R. BUILDING, 2ND FLOOR, SECTOR-17, DIGILINK LIMITED) HARYANA CIRCLE, CHANDIGARH KUNJPURA ROAD, KARNAL, HARYANA (PAN: AAACA3202D) (APPELLANT) (RESPONDENT) Assessee by : Sh. Salil Kapoor & Ms. Ananya Kapoor, Advocates Department by : Sh. S.S. Rana, CIT(DR) AND ITA Nos. 716, 717, 718/Del/2017 Assessment Years:…

DCIT 4(2)(1), Mumbai vs. Vibrant Securites P.Ltd, Mumbai

The appeal of the revenue is dismissed, in terms of our aforesaid observations

ITA 142/MUM/2016[2007-08]Status: DisposedITAT Mumbai25 Oct 2017AY 2007-08

Bench: Shri B.R. Baskaran, Am & Shri Ravish Sood, Jm आयकर अपील सं./ I.T.A. No. 142/Mum/2016 (निर्धारण वर्ा / Assessment Year: 2009-10) Dcit 4(2)(1), Room No. 642, 6Th M/S Vibrant Securities Pvt. Ltd. बिधम/ 103-A, Poddar Chambers, S.A. Floor, Aaykar Bhawan, M.K Brelvi Road, Fort, Mumbai. Road, Mumbai, - 400 020 Vs.

For Appellant: Ms. Pooja Swaroop, D.R
Section 143(2)Section 143(3)Section 194JSection 254Section 40

…Dy. CIT vs. Vibrant Securities ltd. – ITA No. 142/Mum/2016 1 A.Y. 2007-08 IN THE INCOME TAX APPELLATE TRIBUNAL ‘F’ BENCH, MUMBAI BEFORE SHRI B.R. BASKARAN, AM AND SHRI RAVISH SOOD, JM आयकर अपील सं./ I.T.A. No. 142/Mum/2016 (निर्धारण वर्ा / Assessment Year: 2009-10) DCIT 4(2)(1), Room No. 642, 6th M/s Vibrant Securities Pvt. Ltd. बिधम/ 103-A, Poddar Chambers, S.A. Floor, Aaykar Bhawan, M.K Brelvi Road, Fort, Mumbai. Road, Mumbai, - 400 020 Vs. स्थामीरेखासं./ जीआइआयसं./ PAN/GIR No. AABCV8287E (अपीलाथी/Appellant) (प्रत्यथी / Respondent : अपीलाथी की ओर से/Appellant by : Ms. Pooja Swaroop, D.R. प्रत्यथी की ओर से/…

Samurai Securities P. Ltd, Mumbai vs. ITO (OSD) TDS 3(2), Mumbai

In the result the appeal of the assessee is allowed for statistical purpose

ITA 2850/MUM/2014[2010-11]Status: DisposedITAT Mumbai18 Oct 2017AY 2010-11

Bench: Shri R. C. Sharma & Shri Pawan Singhsamurai Securities Pvt Ltd, Ito (Osd) -3(2), 303/306, Raheja Chembers Free Charni Road Press Journal Marg, Mumbai Vs. Nariman Point, Mumbai-400021 Pan:Aagcs7809C (Appellant) (Respondent) Assessee Represented By – None Revenue Represented By-- Sh. V. Justine –Dr Date Of Hearing: 18.10.2017 Date Of Order: 18.10.2017 Order Under Section 254(1) Of Income Tax Act Per Pawan Singh: 1. This Appeal By Assessee Under Section 253 Of Income Tax Act Is Directed

Section 194JSection 201(1)Section 253Section 254(1)

…ITA No.2850/M/2014 Samurai Securities Pvt Ltd IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH “E”, MUMBAI BEFORE SHRI R. C. SHARMA, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER Samurai Securities Pvt Ltd, ITO (OSD) -3(2), 303/306, Raheja Chembers Free Charni Road Press Journal Marg, Mumbai Vs. Nariman Point, Mumbai-400021 PAN:AAGCS7809C (Appellant) (Respondent) Assessee represented by – None Revenue Represented by-- Sh. V. Justine –DR Date of hearing: 18.10.2017 Date of Order: 18.10.2017 Order Under Section 254(1) of Income Tax Act PER PAWAN SINGH, JUDICIAL MEMBER: 1. This appeal by assessee under sec…

DCIT 4(1), Mumbai vs. Icici Securities P. Ltd, Mumbai

In the result, the appeal of the assessee for the AY 2008-09 is partly allowed

ITA 2346/MUM/2012[2008-09]Status: DisposedITAT Mumbai15 Sept 2017AY 2008-09

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2007-08 Icici Securities Ltd. Acit-4(1) Icici Centre, H.T. Parekh Vs. Mumbai. Marg, Churchgate, Mumbai-400020. Pan No. Aaaci0996E (Appellant) (Respondent) Assessment Year: 2007-08 Dcit-4(1) Icici Securities Ltd. 6Th Floor Aayakar Bhavan, Vs. Icici Centre, H.T. M.K. Road Parekh Marg, Mumba-400020. Churchgate, Mumbai-400020. Pan No. Aaaci0996E (Appellant) (Respondent) Assessment Year: 2008-09 Icici Securities Ltd. Acit-4(1) Icici Centre, H.T. Parekh Vs. 6Th Floor Aayakar Marg, Churchgate, Bhavan, M.K. Road Mumbai-400020. Mumba-400020. Pan No. Aaaci0996E (Appellant) (Respondent) Assessment Year: 2008-09 Dcit-4(1) Icici Securities Ltd. Mumbai. Vs. Icici Centre, H.T. Parekh Marg, Churchgate, Mumbai-400020. Pan No. Aaaci0996E (Appellant) (Respondent) Assessee By : Mr. Yogesh A. Thar, Ar Revenue By: Mr. B.C.S. Naik, Dr Date Of Hearing : 20/06/2017 Date Of Pronouncement: 15/09/2017

For Appellant: Mr. Yogesh A. Thar, ARFor Respondent: Mr. B.C.S. Naik, DR

…rder passed by the Ld. CIT(A). He further submits that similar disallowance made by the AO has been deleted by the Ld. CIT(A) in assessee’s own case in AY 2005- 06 and AY 2006-07. Reliance is also placed by him on the decision in CIT vs. Kotak Securities Ltd. 383 ITR 1 (SC), ACIT vs. Twenty First Century Shares and Securities Ltd. (2013) 39 taxmann.com 176(Mumbai-Trib), Centrum Broking Ltd. vs. ACIT (2015) 59 taxmann.com 451 (Mumbai-Trib). 9.3 On the other hand, the Ld. DR supports the order passed by the AO. 9.4 We have heard the rival submissions and perused the relevant materials on record. In Kotak Securities…

Icici Securities Ltd (Earlier Known As Icici Brokerage Services Ltd), Mumbai vs. Addl CIT Cir 4(1), Mumbai

In the result, the appeal of the assessee for the AY 2008-09 is partly allowed

ITA 1906/MUM/2012[2008-09]Status: DisposedITAT Mumbai15 Sept 2017AY 2008-09

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2007-08 Icici Securities Ltd. Acit-4(1) Icici Centre, H.T. Parekh Vs. Mumbai. Marg, Churchgate, Mumbai-400020. Pan No. Aaaci0996E (Appellant) (Respondent) Assessment Year: 2007-08 Dcit-4(1) Icici Securities Ltd. 6Th Floor Aayakar Bhavan, Vs. Icici Centre, H.T. M.K. Road Parekh Marg, Mumba-400020. Churchgate, Mumbai-400020. Pan No. Aaaci0996E (Appellant) (Respondent) Assessment Year: 2008-09 Icici Securities Ltd. Acit-4(1) Icici Centre, H.T. Parekh Vs. 6Th Floor Aayakar Marg, Churchgate, Bhavan, M.K. Road Mumbai-400020. Mumba-400020. Pan No. Aaaci0996E (Appellant) (Respondent) Assessment Year: 2008-09 Dcit-4(1) Icici Securities Ltd. Mumbai. Vs. Icici Centre, H.T. Parekh Marg, Churchgate, Mumbai-400020. Pan No. Aaaci0996E (Appellant) (Respondent) Assessee By : Mr. Yogesh A. Thar, Ar Revenue By: Mr. B.C.S. Naik, Dr Date Of Hearing : 20/06/2017 Date Of Pronouncement: 15/09/2017

For Appellant: Mr. Yogesh A. Thar, ARFor Respondent: Mr. B.C.S. Naik, DR

…rder passed by the Ld. CIT(A). He further submits that similar disallowance made by the AO has been deleted by the Ld. CIT(A) in assessee’s own case in AY 2005- 06 and AY 2006-07. Reliance is also placed by him on the decision in CIT vs. Kotak Securities Ltd. 383 ITR 1 (SC), ACIT vs. Twenty First Century Shares and Securities Ltd. (2013) 39 taxmann.com 176(Mumbai-Trib), Centrum Broking Ltd. vs. ACIT (2015) 59 taxmann.com 451 (Mumbai-Trib). 9.3 On the other hand, the Ld. DR supports the order passed by the AO. 9.4 We have heard the rival submissions and perused the relevant materials on record. In Kotak Securities…

D.C.I.T.4(1), Mumbai vs. Icici Securities Ltd., Mumbai

In the result, the appeal of the assessee for the AY 2008-09 is partly allowed

ITA 2702/MUM/2011[2007-08]Status: DisposedITAT Mumbai15 Sept 2017AY 2007-08

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2007-08 Icici Securities Ltd. Acit-4(1) Icici Centre, H.T. Parekh Vs. Mumbai. Marg, Churchgate, Mumbai-400020. Pan No. Aaaci0996E (Appellant) (Respondent) Assessment Year: 2007-08 Dcit-4(1) Icici Securities Ltd. 6Th Floor Aayakar Bhavan, Vs. Icici Centre, H.T. M.K. Road Parekh Marg, Mumba-400020. Churchgate, Mumbai-400020. Pan No. Aaaci0996E (Appellant) (Respondent) Assessment Year: 2008-09 Icici Securities Ltd. Acit-4(1) Icici Centre, H.T. Parekh Vs. 6Th Floor Aayakar Marg, Churchgate, Bhavan, M.K. Road Mumbai-400020. Mumba-400020. Pan No. Aaaci0996E (Appellant) (Respondent) Assessment Year: 2008-09 Dcit-4(1) Icici Securities Ltd. Mumbai. Vs. Icici Centre, H.T. Parekh Marg, Churchgate, Mumbai-400020. Pan No. Aaaci0996E (Appellant) (Respondent) Assessee By : Mr. Yogesh A. Thar, Ar Revenue By: Mr. B.C.S. Naik, Dr Date Of Hearing : 20/06/2017 Date Of Pronouncement: 15/09/2017

For Appellant: Mr. Yogesh A. Thar, ARFor Respondent: Mr. B.C.S. Naik, DR

…rder passed by the Ld. CIT(A). He further submits that similar disallowance made by the AO has been deleted by the Ld. CIT(A) in assessee’s own case in AY 2005- 06 and AY 2006-07. Reliance is also placed by him on the decision in CIT vs. Kotak Securities Ltd. 383 ITR 1 (SC), ACIT vs. Twenty First Century Shares and Securities Ltd. (2013) 39 taxmann.com 176(Mumbai-Trib), Centrum Broking Ltd. vs. ACIT (2015) 59 taxmann.com 451 (Mumbai-Trib). 9.3 On the other hand, the Ld. DR supports the order passed by the AO. 9.4 We have heard the rival submissions and perused the relevant materials on record. In Kotak Securities…

Icici Securities Ltd ( Earlier Known As Brokerage Services Ltd), Mumbai vs. Addl CIT Cir 4(1), Mumbai

In the result, the appeal of the assessee for the AY 2008-09 is partly allowed

ITA 2437/MUM/2011[2007-08]Status: DisposedITAT Mumbai15 Sept 2017AY 2007-08

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2007-08 Icici Securities Ltd. Acit-4(1) Icici Centre, H.T. Parekh Vs. Mumbai. Marg, Churchgate, Mumbai-400020. Pan No. Aaaci0996E (Appellant) (Respondent) Assessment Year: 2007-08 Dcit-4(1) Icici Securities Ltd. 6Th Floor Aayakar Bhavan, Vs. Icici Centre, H.T. M.K. Road Parekh Marg, Mumba-400020. Churchgate, Mumbai-400020. Pan No. Aaaci0996E (Appellant) (Respondent) Assessment Year: 2008-09 Icici Securities Ltd. Acit-4(1) Icici Centre, H.T. Parekh Vs. 6Th Floor Aayakar Marg, Churchgate, Bhavan, M.K. Road Mumbai-400020. Mumba-400020. Pan No. Aaaci0996E (Appellant) (Respondent) Assessment Year: 2008-09 Dcit-4(1) Icici Securities Ltd. Mumbai. Vs. Icici Centre, H.T. Parekh Marg, Churchgate, Mumbai-400020. Pan No. Aaaci0996E (Appellant) (Respondent) Assessee By : Mr. Yogesh A. Thar, Ar Revenue By: Mr. B.C.S. Naik, Dr Date Of Hearing : 20/06/2017 Date Of Pronouncement: 15/09/2017

For Appellant: Mr. Yogesh A. Thar, ARFor Respondent: Mr. B.C.S. Naik, DR

…rder passed by the Ld. CIT(A). He further submits that similar disallowance made by the AO has been deleted by the Ld. CIT(A) in assessee’s own case in AY 2005- 06 and AY 2006-07. Reliance is also placed by him on the decision in CIT vs. Kotak Securities Ltd. 383 ITR 1 (SC), ACIT vs. Twenty First Century Shares and Securities Ltd. (2013) 39 taxmann.com 176(Mumbai-Trib), Centrum Broking Ltd. vs. ACIT (2015) 59 taxmann.com 451 (Mumbai-Trib). 9.3 On the other hand, the Ld. DR supports the order passed by the AO. 9.4 We have heard the rival submissions and perused the relevant materials on record. In Kotak Securities…

Networth Stock Broking Ltd, Mumbai vs. ACIT Cir 4(2), Mumbai

In the result, the appeal of assessee in ITA No

ITA 3332/MUM/2012[2007-08]Status: DisposedITAT Mumbai10 Mar 2017AY 2007-08

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

Section 143(3)Section 36(1)(ii)Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SRI MAHAVIR SINGH, JM AND SRI RAJESH KUMAR, AM ITA No.2268/Mum/2012 (A.Y:2008-09) Asst. Commissioner of Income Tax, Networth Stock Broking Ltd. Room No.642, 6th Floor, Aayakar 1001/1002, 10th floor, Atlanta Bhavan, M.K. Road, Centre, Opp Adyog Bhavan, Vs. Mumbai.-400020 Sonawala Road, Goregaon (E), Mumbai-400063 PAN No.AAACN1184F .. Appellant Respondent ITA No.2288/Mum/2012 (A.Y:2008-09) Networth Stock Broking Ltd. Asst. Commissioner of Income Tax, 1001/1002, 10th floor, Atlanta Room No.642, 6th Floor, Aayakar Vs. Centre, Opp Adyog Bhavan, Bhavan, M.K.…

ACIT 4(2), Mumbai vs. Networth Stock Broking Ltd, Mumbai

In the result, the appeal of assessee in ITA No

ITA 3228/MUM/2012[2007-08]Status: DisposedITAT Mumbai10 Mar 2017AY 2007-08

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

Section 143(3)Section 36(1)(ii)Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SRI MAHAVIR SINGH, JM AND SRI RAJESH KUMAR, AM ITA No.2268/Mum/2012 (A.Y:2008-09) Asst. Commissioner of Income Tax, Networth Stock Broking Ltd. Room No.642, 6th Floor, Aayakar 1001/1002, 10th floor, Atlanta Bhavan, M.K. Road, Centre, Opp Adyog Bhavan, Vs. Mumbai.-400020 Sonawala Road, Goregaon (E), Mumbai-400063 PAN No.AAACN1184F .. Appellant Respondent ITA No.2288/Mum/2012 (A.Y:2008-09) Networth Stock Broking Ltd. Asst. Commissioner of Income Tax, 1001/1002, 10th floor, Atlanta Room No.642, 6th Floor, Aayakar Vs. Centre, Opp Adyog Bhavan, Bhavan, M.K.…