DCIT v. Angel

35 SOT 457Income Tax Appellate Tribunal2010#8043 most cited
14

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2023.

Judgments citing DCIT v. Angel

HSBC SECURITIES AND CAPITAL MARKETS (I) P.LTD,MUMBAI vs. DCIT RG 4(1), MUMBAI

In the result, appeal filed by the assessee is allowed

ITA 702/MUM/2014[2009-10]Status: DisposedITAT Mumbai10 Mar 2023AY 2009-10

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

For Appellant: Ms. Samruddhi Dhananjay Hande, Sr. DRFor Respondent: Sh. Porus Kaka / Tejas Mhatre
Section 143(3)Section 92CSection 92D

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “K”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER ITA No. 702/Mum/2014 (A.Y. 2009-10) M/s. HSBC Securities and Capital Markets (India) Pvt. Ltd. 52/60, Mahatma Gandhi Road, Fort, Mumbai- 400001. PAN: AAACJ1395E ..... Appellant Vs. DCIT-4(1), Room No. 640, 6th Floor, Aayakar Bhavan, M.K. Road, Mumbai- 400020. ...... Respondent DCIT-4(1), Room No. 640, 6th Floor, Aayakar Bhavan, M.K. Road, Mumbai- 400020. ...... Appellant Vs. M/s. HSBC Securities and Capital Markets (India) Pvt. Ltd. 52/60, mahatma Gandhi Road, Fort, Mum…

HSBC SECURITIES AND CAPITAL MARKETS (INDIA) P. LTD,MUMBAI vs. DCIT RG 4(1), MUMBAI

In the result, appeal filed by the assessee is allowed

ITA 4459/MUM/2014[2006-07]Status: DisposedITAT Mumbai10 Mar 2023AY 2006-07

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

For Appellant: Ms. Samruddhi Dhananjay Hande, Sr. DRFor Respondent: Sh. Porus Kaka / Tejas Mhatre
Section 143(3)Section 92CSection 92D

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “K”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER ITA No. 702/Mum/2014 (A.Y. 2009-10) M/s. HSBC Securities and Capital Markets (India) Pvt. Ltd. 52/60, Mahatma Gandhi Road, Fort, Mumbai- 400001. PAN: AAACJ1395E ..... Appellant Vs. DCIT-4(1), Room No. 640, 6th Floor, Aayakar Bhavan, M.K. Road, Mumbai- 400020. ...... Respondent DCIT-4(1), Room No. 640, 6th Floor, Aayakar Bhavan, M.K. Road, Mumbai- 400020. ...... Appellant Vs. M/s. HSBC Securities and Capital Markets (India) Pvt. Ltd. 52/60, mahatma Gandhi Road, Fort, Mum…

DCIT 4(1), MUMBAI vs. HSBC SECURITIES AND CAPITAL MARKETS (INDIA) P.LTD, MUMBAI

In the result, appeal filed by the assessee is allowed

ITA 1661/MUM/2014[2009-10]Status: DisposedITAT Mumbai10 Mar 2023AY 2009-10

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

For Appellant: Ms. Samruddhi Dhananjay Hande, Sr. DRFor Respondent: Sh. Porus Kaka / Tejas Mhatre
Section 143(3)Section 92CSection 92D

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “K”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER ITA No. 702/Mum/2014 (A.Y. 2009-10) M/s. HSBC Securities and Capital Markets (India) Pvt. Ltd. 52/60, Mahatma Gandhi Road, Fort, Mumbai- 400001. PAN: AAACJ1395E ..... Appellant Vs. DCIT-4(1), Room No. 640, 6th Floor, Aayakar Bhavan, M.K. Road, Mumbai- 400020. ...... Respondent DCIT-4(1), Room No. 640, 6th Floor, Aayakar Bhavan, M.K. Road, Mumbai- 400020. ...... Appellant Vs. M/s. HSBC Securities and Capital Markets (India) Pvt. Ltd. 52/60, mahatma Gandhi Road, Fort, Mum…

DCIT, NEW DELHI vs. M/S. VICTORY PORTFOLIO LTD., NEW DELHI

The appeal of the assessee is allowed with above direction

ITA 4500/DEL/2011[2008-09]Status: DisposedITAT Delhi25 Nov 2019AY 2008-09

Bench: Shri Kuldip Singh & Shri Prashant Maharishivictory Portfolio Ltd, Vs. Dcit, 209, Gupta Towers, Azardpur Circle-17(1), Commercial Complex, New Delhi New Delhi Pan: Aaafv9634K (Appellant) (Respondent) Dcit, Vs. Victory Portfolio Ltd, Circle-17(1), 209, Gupta Towers, Azardpur New Delhi Commercial Complex, New Delhi Pan: Aaafv9634K (Appellant) (Respondent)

For Appellant: Shri Ved Jain, AdvFor Respondent: Smt Naina Soin Kapil, Sr. DR
Section 115JSection 143Section 14ASection 225Section 36Section 40Section 80Section 88E

…e set charges any charges as and when demanded by Sebi. The assessee company debited the same to the profit and loss account. The learned CIT – A held that above issue has been squarely considered by the coordinate benches in case of DCIT vs Angel broking Ltd 35 SOT 457 and DCIT vs Sonal shares and stockbrokers private limited 38 SOT 457. Therefore, AO is in appeal before us. 25. The learned departmental representative vehemently supported the order of the learned assessing officer and submitted that the above charges are professional fees paid by the assessee and therefore the tax is required to be deducted ther…

M/S. VICTORY PORTFOLIO LTD.,NEW DELHI vs. DCIT, NEW DELHI

The appeal of the assessee is allowed with above direction

ITA 4267/DEL/2011[2008-09]Status: DisposedITAT Delhi25 Nov 2019AY 2008-09

Bench: Shri Kuldip Singh & Shri Prashant Maharishivictory Portfolio Ltd, Vs. Dcit, 209, Gupta Towers, Azardpur Circle-17(1), Commercial Complex, New Delhi New Delhi Pan: Aaafv9634K (Appellant) (Respondent) Dcit, Vs. Victory Portfolio Ltd, Circle-17(1), 209, Gupta Towers, Azardpur New Delhi Commercial Complex, New Delhi Pan: Aaafv9634K (Appellant) (Respondent)

For Appellant: Shri Ved Jain, AdvFor Respondent: Smt Naina Soin Kapil, Sr. DR
Section 115JSection 143Section 14ASection 225Section 36Section 40Section 80Section 88E

…e set charges any charges as and when demanded by Sebi. The assessee company debited the same to the profit and loss account. The learned CIT – A held that above issue has been squarely considered by the coordinate benches in case of DCIT vs Angel broking Ltd 35 SOT 457 and DCIT vs Sonal shares and stockbrokers private limited 38 SOT 457. Therefore, AO is in appeal before us. 25. The learned departmental representative vehemently supported the order of the learned assessing officer and submitted that the above charges are professional fees paid by the assessee and therefore the tax is required to be deducted ther…

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

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I” MUMBAI BEFORE SHRI SAKTIJIT DEY (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) 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…

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

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I” MUMBAI BEFORE SHRI SAKTIJIT DEY (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) 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…

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

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I” MUMBAI BEFORE SHRI SAKTIJIT DEY (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) 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…

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

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I” MUMBAI BEFORE SHRI SAKTIJIT DEY (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) 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…

ACIT (TDS), JAIPUR vs. GNADHI VIDHYA MANDIR, CHURU

ITA 1016/JPR/2015[2012-13]Status: DisposedITAT Jaipur31 Jan 2017AY 2012-13
For Appellant: Shri M.L. Borad (Advocate)For Respondent: Shri Anil Kumar (CIT)
Section 194CSection 194JSection 201Section 201(1)

…nly when by making payment of fee for technical services”. 4.5 Payment made to stock exchange for providing infrastructure to their members is not in the nature of technical services to attract provisions of section 194J (Dy.CIT Vs. Angel Broking Ltd. (2010) 35 SOT 457 (Mum.). 4.6 Where a hospital engaged consulting doctors and provided them with consulting chambers with secretarial assistance and the fees collected from out-patients and paid to the consultants each day after deducting certain amount towards rent and secretarial assistance, it was not a case of payment of professional fee and neither section 19…

MOTILAL OSWAL COMMODITIES BROKERS P.LTD,MUMBAI vs. DCIT CC 22, MUMBAI

The appeals of the assessee are allowed

ITA 650/MUM/2014[2010-11]Status: DisposedITAT Mumbai02 Nov 2016AY 2010-11

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2009-10 & Assessment Year : 2010-11

Section 32Section 32(1)(ii)

…above amount invoking section 40(a)(ia) on the ground that the assessee failed to comply with the applicable TDS provisions. The ld. CIT(A) following the decision of co- ordinate Benches in the case of Kotak Mahindra Securities (25 SOT 44) and Angel Broking (35 SOT 457) allowed the claim of the assessee . This issue is also covered by the decision of the Hon'ble A.Y.08-09 M/s. Angel Commodities Broking P. Ltd. Bombay High Court in assessee's own case for the assessment year 2006-07 wherein the Hon'ble High Court upheld the orders of ITAT following its own decision in the case of CIT vs. Angel Capital and Debit M…

MOTILAL OSWAL COMMODITIES BROKER P. LTD,MUMBAI vs. ACIT CEN CIR 22, MUMBAI

The appeals of the assessee are allowed

ITA 335/MUM/2013[2009-10]Status: DisposedITAT Mumbai02 Nov 2016AY 2009-10

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2009-10 & Assessment Year : 2010-11

Section 32Section 32(1)(ii)

…above amount invoking section 40(a)(ia) on the ground that the assessee failed to comply with the applicable TDS provisions. The ld. CIT(A) following the decision of co- ordinate Benches in the case of Kotak Mahindra Securities (25 SOT 44) and Angel Broking (35 SOT 457) allowed the claim of the assessee . This issue is also covered by the decision of the Hon'ble A.Y.08-09 M/s. Angel Commodities Broking P. Ltd. Bombay High Court in assessee's own case for the assessment year 2006-07 wherein the Hon'ble High Court upheld the orders of ITAT following its own decision in the case of CIT vs. Angel Capital and Debit M…

FIRST GLOBAL STOCKBROKING P. LTD,MUMBAI vs. ITO (TDS) 1(5), MUMBAI

The appeal of the assessee is dismissed

ITA 5256/MUM/2014[2010-11]Status: DisposedITAT Mumbai11 Mar 2016AY 2010-11

Bench: Shri Joginder Singh & Shri Jason P. Boazassessment Year: 2010-11 First Global Stockbroking Ito(Tds)-1(5), Pvt. Ltd. R. No.808, बनाम/ 2, Crescent Chambers, Smt. K.G. Mittal Aayurvedic Vs. 4Th Floor, Tamarind Lane, Hospital Bldg, Charni Road, Fort, Mumbai-400001 Mumbai-400002 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aaacf0661K

Section 194JSection 201(1)

…x (Appeals) has only given partial relief of Rs. 2,50,000, after considering the Income-tax Appellate Tribunal orders in the cases of Kotak Securities Ltd. [2009] 318 ITR (AT) 268 (Mum); [2009] 124 TTJ 241 and Angel Broking Ltd. [2010] 3 ITR (Trib) 294 (Mum); 35 SOT 457 (Mum), we are of the opinion that there is no need to disturb the order of the Commissioner of Income-tax (Appeals). In view of this, grounds raised are dismissed.” Totality of facts clearly indicates that the issue was not new to the assessee as it arose earlier also and knowing fully well that the assessee is to deduct tax at source still the a…

ACIT 4(3), MUMBAI vs. MEHTA FINSTOCK P. LTD, MUMBAI

ITA 3116/MUM/2011[2007-08]Status: DisposedITAT Mumbai14 Oct 2015AY 2007-08
For Appellant: Shri Neelkanth KhandelwalFor Respondent: Shri Maurya Pratap–DR
Section 143Section 194JSection 254(1)Section 40Section 9

…e preferred an appeal before the First Appellate Authority(FAA) .Before him,the assessee submitted that issue was decided in its favour by the order of the Tribunal delivered in the case of Kotak Securities Ltd.Referring to the decisions of Angel Broking Ltd.(35 SOT 457)and Kotak Securities Ltd. (124 TTJ 241),he deleted the addition of Rs.12.35 lacs made by the AO. 5.During the course of hearing before us,the Departmental Representative(DR) left the issue to the discretion of the Bench. The Authorised Representative (AR) relied upon the cases of (Income tax Appeal (L) No.475 of 2011 dated 28.07.2011), Kotak Secur…