DCIT v. S.S.K.I. Investors Services Pvt. Ltd.

113 TTJ 511Income Tax Appellate Tribunal2008#16503 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 350,364 Indian tax judgments — from 2012 to 2021.

Judgments citing DCIT v. S.S.K.I. Investors Services Pvt. Ltd.

Sri. B. Rudragouda, Bellary vs. The Deputy Commissioner of Income Tax, Circle- 1, Bellary

In the result, the appeal is allowed

ITA 315/BANG/2020[2016-17]Status: DisposedITAT Bangalore15 Apr 2021AY 2016-17

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri Chythanya K.K., AdvocateFor Respondent: Shri Muzaffar Hussain, CIT(DR)(ITAT), Bengaluru

Section 37Section 37(1)

…(P.) Ltd. [2010] 127 ITD 386 (Chennai) [Para 3,4]; R.B.K. Securities (P.) Ltd. vs. ITO [2008] 118 TTJ 465 (Mum) [Para 4 & 5]; DCIT vs. Madanlal Ltd. [2012] 51 SOT 188/21 taxmann.com 444 (Ko1.)(URO) [Para 4, 5] CIT vs. SSKI Investors Services (P.) Ltd. [2008] 113 TTJ 511 (Mumbai) [Para 3]; Rikeen P. Dalal vs. DCIT, [2014] 62 SOT 49 (Mum)(URO.) [Para 2 & 6]; 64. Therefore, it was submitted that trading in F & 0 derivative is taxable under section 28(i). The same is not a speculative transaction under section 43(5) of IT Act. 65. The ld. AR further submitted that the assessment has to be completed in accordance wi…

Sri. B. Rudragouda, Bellary vs. The Assistant Commissioner of Income Tax, Circle- 1, Bellary

In the result, the appeal is allowed

ITA 314/BANG/2020[2015-16]Status: DisposedITAT Bangalore15 Apr 2021AY 2015-16

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri Chythanya K.K., AdvocateFor Respondent: Shri Muzaffar Hussain, CIT(DR)(ITAT), Bengaluru

Section 37Section 37(1)

Kedia Shares & Stocks Brokers Ltd, Mumbai vs. Jt CIT (OSD) 4(3), Mumbai

In the result, the appeal is partly allowed

ITA 4033/MUM/2013[2009-10]Status: DisposedITAT Mumbai07 Apr 2017AY 2009-10

Bench: Shri Mahavir Singh () & Shri N.K. Pradhan () Assessment Year: 2009-10

For Appellant: Shri Ajay Singh, ARFor Respondent: Shri B.S. Bist, DR

Section 143(3)Section 28Section 43(5)Section 43(5)(c)Section 73

…jobbing or arbitrage and in derivative segments are not deemed to be speculative transactions as provided in the provisions (c) & (d) of section 43(5) of the Act and the same has been supported by the decision in the case of DCIT vs. SSSKI Investors (P) Ltd. 113 TTJ 511 and RKB Securities (P) Ltd. vs. ITO 6 118 TTJ 465, (iii) since the assessee’s entire income is from share trading, the loss or profit earned through these transactions is deemed to be speculative transactions as per Explanation to Section 73 of the Act. In view of the above, the learned CIT(A) held that the assessee is not entitled to set off t…

Jm Financial Services Ltd, Mumbai vs. JCIT (OSD) 4(3), Mumbai

Accordingly dismissed. However, in view of our findings given above, the appeal of the assessee is treated as partly allowed

ITA 3654/MUM/2014[2009-10]Status: DisposedITAT Mumbai28 Dec 2016AY 2009-10

Bench: Shri G.S. Pannu & Shri Sanjay Gargassessment Year: 2009-10 M/S. J.M. Financial Services The Joint Commissioner Of Ltd., Income-Tax (Osd)-4(3), (Formerly Jm Financial Room No.635, Services Pvt. Ltd.), Aayakar Bhavan, Vs. 7Th Floor, Cnergy, M.K. Road, Appasaheb Marathe Marg, Mumbai - 400020 Prabhadevi, Mumbai – 400 025 Pan: Aaacj5977A (Appellant) (Respondent) Assessment Year: 2009-10

For Appellant: Shri K. Shivaram, A.RFor Respondent: Shri Alok Johri, D.R

Section 14A

…CIT vs. Sucham Finance & Investment – (2007) 290 ITR 379 (ITAT Mum.) 5. Shree Capital Services Ltd. vs. ACIT (2009) 121 ITD 498 (Kol. ITAT) (SB) 6. C. Bharath Kumar vs. DCIT (2005) 4 SOT 593 (Bang.) (ITAT) 7. DCIT vs. Sski Investors Services (P) Ltd. – (2008) 113 TTJ 511 (ITAT)(Mum) 8. Apollo Tyres Ltd. vs. CIT (2002) 255 ITR 273 (SC)” 20. The Ld. Counsel for the assessee, on the other hand, has submitted that the assessee is in the business of cash future arbitrage. The assessee takes benefit in the price difference in the two different market/segments. The assessee in his business buys a particular scrip in th…

CIT vs. Hermonos Zubadi Investment Pvt Ltd

The appeal is dismissed

ITA - 222 / 2012HC Delhi13 Apr 2012

Section 143(3)Section 154Section 43(5)

…IN THE HIGH COURT OF DELHI AT NEW DELHI . . . ITA 222/2012 . . . CIT ..... Appellant . Through: Mr. Sanjeev Sabharwal, Sr. Standing Counsel. . versus . . . HERMONOS ZUBADI INVESTMENT PVT LTD ..... Respondent . Through: Mr. Salil Aggarwal with Mr. P.C. Yadav, Advocate. . . . CORAM: . HON'BLE MR. JUSTICE SANJIV KHANNA . HON'BLE MR. JUSTICE R.V.EASWAR . . . O R D E R . 13.04.2012 . . . In the List of Dates and Synopsis, it is mentioned that tax effect . is ` 2,52,114/-. In spite of the small tax effec…