Kotak Securities v. Addl.CIT

25 SOT 440Income Tax Appellate Tribunal#10671 most cited
10

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2019.

Judgments citing Kotak Securities v. Addl.CIT

ICICI SECURITIES LTD ( EARLIER KNOWN AS ICICI BROKERAGE SERVICES LTD),MUMBAI vs. ADDL CIT RG 4(1), MUMBAI

Appeal of the assessee is allowed and that of department is dismissed, as above

ITA 5789/MUM/2010[2006-07]Status: DisposedITAT Mumbai26 Jul 2019AY 2006-07

Bench: Shri G.S. Pannu & Shri Ram Lal Negi: A.Y : 2006-07

For Appellant: Ms. Aarti VissanjiFor Respondent: Shri Neil Philip
Section 10(34)Section 143(3)Section 14ASection 234BSection 40A(2)(b)

…ed the expenditure under Section 40(a)(ia) of the Act relying upon his order for assessment year 2005-06. On appeal, CIT(A) deleted the addition made by the Assessing Officer relying on the decision of our co-ordinate bench in the case of Kotak Securities Ltd 25 SOT 440 wherein it was held that the Stock Exchange did not provide managerial services to its members and the fees paid by the member were not for any technical services, hence tax was not deductible on the same. Aggrieved by the same, Revenue is in appeal before us. 37. The ld. DR before us relied upon the order of Assessing Officer to contend that sin…

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

…S). Based on such observation, AO has disallowed aforesaid expenses u/s 40(ia) since assessee-company has not deducted TDS while making payments to the Exchanges. 9.1 In appeal, the Ld. CIT(A) followed the decision by ITAT in the case of M/s Kotak Securities (25 SOT 440), M/s Angel Broking Ltd. (35 SOT 457) and HDFC Securities (ITA No. 7036/Mum/2008) 19.03.2010 and deleted the addition of Rs.8,24,83,381/- made by the AO. 9.2 Before us, the Ld. counsel supports the order 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 i…

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

…S). Based on such observation, AO has disallowed aforesaid expenses u/s 40(ia) since assessee-company has not deducted TDS while making payments to the Exchanges. 9.1 In appeal, the Ld. CIT(A) followed the decision by ITAT in the case of M/s Kotak Securities (25 SOT 440), M/s Angel Broking Ltd. (35 SOT 457) and HDFC Securities (ITA No. 7036/Mum/2008) 19.03.2010 and deleted the addition of Rs.8,24,83,381/- made by the AO. 9.2 Before us, the Ld. counsel supports the order 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 i…

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

…S). Based on such observation, AO has disallowed aforesaid expenses u/s 40(ia) since assessee-company has not deducted TDS while making payments to the Exchanges. 9.1 In appeal, the Ld. CIT(A) followed the decision by ITAT in the case of M/s Kotak Securities (25 SOT 440), M/s Angel Broking Ltd. (35 SOT 457) and HDFC Securities (ITA No. 7036/Mum/2008) 19.03.2010 and deleted the addition of Rs.8,24,83,381/- made by the AO. 9.2 Before us, the Ld. counsel supports the order 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 i…

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

…S). Based on such observation, AO has disallowed aforesaid expenses u/s 40(ia) since assessee-company has not deducted TDS while making payments to the Exchanges. 9.1 In appeal, the Ld. CIT(A) followed the decision by ITAT in the case of M/s Kotak Securities (25 SOT 440), M/s Angel Broking Ltd. (35 SOT 457) and HDFC Securities (ITA No. 7036/Mum/2008) 19.03.2010 and deleted the addition of Rs.8,24,83,381/- made by the AO. 9.2 Before us, the Ld. counsel supports the order 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 i…

THE COMMISSIONER OF INCOME-TAX vs. M/S VODAFONE SOUTH LTD

The appeals are dismissed

ITA/699/2015HC Karnataka28 Jul 2016

Bench: S.N.SATYANARAYANA,JAYANT PATEL

Section 260A

…ion Ltd. 251 ITR 53 (Madras) (ii) Bharti Cellular Limited ITA No.1120/2007) (iii) DCIT Vs. Parasrampuria Synthetics Ltd. 20 SOT 248 (Delhi). (iv) ITO Vs. Moving Pictures Company India Ltd. 20 SOT 120 (Delhi). (v) Kotak Securities Ltd. Vs. Addl. CIT 25 SOT 440 (Mum). The above case laws referred by the assessee were found distinguishable to the ITO (TDS). He further relied on the decision in the case of Canara Bank Vs. ITO 305 ITR (AT) 189 where the Hon’ble ITAT Ahmadabad Bench has distinguished the order of the Skycell Communications Ltd and held that clearing charges paid to SBI through MICR…

LEE & MUIRHEAD P. LTD,MUMBAI vs. ADDL CIT RG 2(2), MUMBAI

In the result, the assessee’s appeal is partly allowed

ITA 6518/MUM/2012[2009-10]Status: DisposedITAT Mumbai29 Feb 2016AY 2009-10

Bench: Shri Amit Shukla, Jm & Shri Rajesh Kumar, Am आमकय अऩीर सं./I.T.A. No 7435 /Mum/2011 (ननधधारण वषा / Assessment Year: 2008-09) M/S. Lee & Murihead Pvt. Ltd. Addl. Commissioner Of Income Oricon House, 2Nd Floor Tax -Range 2(2) बनधम/ Room No. 548, 5Th Floor 12-K, Dubhash Marg, Vs. Fort Aayakar Bhavan Mumbai 400023. Mumbai 400020. (अऩीराथी /Appellant) (प्रत्मथी / Respondent) : आमकय अऩीर सं./I.T.A. No 7849/Mum/2011 (ननधधारण वषा / Assessment Year: 2008-09) Asstt. Commissioner Of Income M/S. Lee & Murihead Pvt. Ltd. Oricon House, 2Nd Floor Tax (Osd) Circle 2(2), बनधम/ Room No. 545, 5Th Floor 12-K, Dubhash Marg Vs. Aayakar Bhavan Fort, Mumbai 400020. Mumbai 400023. स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. Aaacl0918M (अऩीराथी /Appellant) (प्रत्मथी / Respondent) : आमकय अऩीर सं./I.T.A. No 6518/Mum/2012 (ननधधारण वषा / Assessment Year: 2009-10) M/S. Lee & Murihead Pvt. Ltd. Addl. Commissioner Of Income Oricon House, 2Nd Floor Tax -Range 2(2) बनधम/ Room No. 548, 5Th Floor 12-K, Dubhash Marg, Vs. Fort Aayakar Bhavan Mumbai 400023. Mumbai 400020. (अऩीराथी /Appellant) (प्रत्मथी / Respondent) : स्थधयी ऱेखध सं./ Pan : Aaaclo918M & Other Two Appeals.

For Appellant: Ms. Aarti VissanjiFor Respondent: Shri Yogesh Kamal
Section 143(2)Section 14ASection 36(1)(va)Section 36(1)(vii)Section 37(1)

…he case. 2. On the facts and the circumstances of the case and in law, the ld. CIT(A) erred in deleting the addition u/s. 40(a)(ia) in connection with leased line charges to VSNL following ITAT Mumbai judgement in the case of Kotak Securities Ltd. Reported in 25 SOT 440 ignoring the fact that the fact that the same judgement has been reversed by the Hon’ble Bombay High Court vide its order dated 25.10.2011 in ITA/3111/2009. 3. For these and other grounds that may be urged at the time of hearing, the decision of the CIT(A) may be set aside and that of the AO restored.” 11.1 At the outset the ld. AR of the assessee…

FOUR DIMENSIONS SECURITIES (I) LTD,MUMBAI vs. ADDL CIT RG 4(1), MUMBAI

Appeals are disposed off in terms indicated hereinabove

ITA 1011/MUM/2010[2006-07]Status: DisposedITAT Mumbai28 Oct 2015AY 2006-07

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2005-06 M/S Four Dimensions Addl. Commissioner Of Securities (India) Ltd. Income Tax, Range-4(1), बनाम/ 29, Bank Street, 1St Floor, 6Th Floor, Aayakar Bhavan, Vs. Fort, Mumbai Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aaacf1734F Assessment Year: 2005-06 Addl. Commissioner Of M/S Four Dimensions Income Tax, Range-4(1), Securities (India) Ltd. बनाम/ 6Th Floor,Aayakar Bhavan, 29, Bank Street, 1St Floor, Vs. Mumbai-400020 Fort, Mumbai (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No.Aaacf1734F Assessment Year: 2006-07 M/S Four Dimensions Addl. Commissioner Of Securities (India) Ltd. Income Tax, Range-4(1), बनाम/ 29, Bank Street, 1St Floor, 6Th Floor, Aayakar Bhavan, Vs. Fort, Mumbai Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aaacf1734F

Section 143(1)Section 143(3)Section 94(7)

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ,एफ,मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “F”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी रिमत कोचर, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri Ramit Kochar, Accountant Member Assessment Year: 2005-06 M/s Four Dimensions Addl. Commissioner of Securities (India) Ltd. Income Tax, Range-4(1), बनाम/ 29, Bank Street, 1st Floor, 6th Floor, Aayakar Bhavan, Vs. Fort, Mumbai Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) PAN. No.AAACF1734F Assessment Year: 2005-06 Addl. Commissioner of M/s Four Dimensions Income Tax, Range-4(1), Secur…

DCIT -4(1), MUMBAI vs. FOUR DIMENSION SECURITIES (I) LTD, MUMBAI

Appeals are disposed off in terms indicated hereinabove

ITA 790/MUM/2009[2005-2006]Status: DisposedITAT Mumbai28 Oct 2015AY 2005-2006

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2005-06 M/S Four Dimensions Addl. Commissioner Of Securities (India) Ltd. Income Tax, Range-4(1), बनाम/ 29, Bank Street, 1St Floor, 6Th Floor, Aayakar Bhavan, Vs. Fort, Mumbai Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aaacf1734F Assessment Year: 2005-06 Addl. Commissioner Of M/S Four Dimensions Income Tax, Range-4(1), Securities (India) Ltd. बनाम/ 6Th Floor,Aayakar Bhavan, 29, Bank Street, 1St Floor, Vs. Mumbai-400020 Fort, Mumbai (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No.Aaacf1734F Assessment Year: 2006-07 M/S Four Dimensions Addl. Commissioner Of Securities (India) Ltd. Income Tax, Range-4(1), बनाम/ 29, Bank Street, 1St Floor, 6Th Floor, Aayakar Bhavan, Vs. Fort, Mumbai Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aaacf1734F

Section 143(1)Section 143(3)Section 94(7)

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ,एफ,मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “F”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी रिमत कोचर, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri Ramit Kochar, Accountant Member Assessment Year: 2005-06 M/s Four Dimensions Addl. Commissioner of Securities (India) Ltd. Income Tax, Range-4(1), बनाम/ 29, Bank Street, 1st Floor, 6th Floor, Aayakar Bhavan, Vs. Fort, Mumbai Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) PAN. No.AAACF1734F Assessment Year: 2005-06 Addl. Commissioner of M/s Four Dimensions Income Tax, Range-4(1), Secur…

FOUR DIMENSIONS SECURITIES (INDIA) LTD,MUMBAI vs. ADDL CIT RG 4(1), MUMBAI

Appeals are disposed off in terms indicated hereinabove

ITA 322/MUM/2009[2005-2006]Status: DisposedITAT Mumbai28 Oct 2015AY 2005-2006

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2005-06 M/S Four Dimensions Addl. Commissioner Of Securities (India) Ltd. Income Tax, Range-4(1), बनाम/ 29, Bank Street, 1St Floor, 6Th Floor, Aayakar Bhavan, Vs. Fort, Mumbai Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aaacf1734F Assessment Year: 2005-06 Addl. Commissioner Of M/S Four Dimensions Income Tax, Range-4(1), Securities (India) Ltd. बनाम/ 6Th Floor,Aayakar Bhavan, 29, Bank Street, 1St Floor, Vs. Mumbai-400020 Fort, Mumbai (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No.Aaacf1734F Assessment Year: 2006-07 M/S Four Dimensions Addl. Commissioner Of Securities (India) Ltd. Income Tax, Range-4(1), बनाम/ 29, Bank Street, 1St Floor, 6Th Floor, Aayakar Bhavan, Vs. Fort, Mumbai Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aaacf1734F

Section 143(1)Section 143(3)Section 94(7)

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ,एफ,मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “F”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी रिमत कोचर, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri Ramit Kochar, Accountant Member Assessment Year: 2005-06 M/s Four Dimensions Addl. Commissioner of Securities (India) Ltd. Income Tax, Range-4(1), बनाम/ 29, Bank Street, 1st Floor, 6th Floor, Aayakar Bhavan, Vs. Fort, Mumbai Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) PAN. No.AAACF1734F Assessment Year: 2005-06 Addl. Commissioner of M/s Four Dimensions Income Tax, Range-4(1), Secur…