VLS Finance Limited & Another v. Commissioner of Income Tax & Another

12 SCC 32Reported decision2016#1484 most cited

What is VLS Finance Limited & Another v. Commissioner of Income Tax & Another authority for?

Transaction charges paid to a stock exchange are for providing a facility and not fees for technical services, thus no tax deduction is required under Section 194J.

77

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2016 to 2025.

Also referred to as

VLS Finance Ltd v CIT · 384 ITR 1 · Section 194J · transaction charges · stock exchange · fees for technical services · tax deduction

Sections most often in play

Section 1961Section 142(2A)Section 143(3)Section 153ASection 153BSection 90Section 90ASection 132 of the Income Tax Act
Read the full judgment

Issues it is cited on

section 158besection 153(3)section 90aaudi alteram partemextension of limitationsection 142(2a)section 153bsection 90principal commissioner of income-taxsection 158bsection 158section 12

Judgments citing VLS Finance Limited & Another v. Commissioner of Income Tax & Another

M/S. Venus Infrabuild, Ahmedabad vs. The Dy.CIT., Cent.Circle-1(1), Ahmedabad

ITA 836/AHD/2019[2014-15]Status: DisposedITAT Ahmedabad12 Nov 2020AY 2014-15

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

…Shri Dilipkumar Lalwani and Others (107 Appeals) आयकरअपील"यअ"धकरण, अहमदाबाद"यायपीठ- अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD – BENCH ‘A’ [Conducted Through Virtual Court] BEFORE SHRI RAJPAL YADAV, VICE-PRESIDENT AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER Appellant Sr.No. IT(SS)A.No. Respondent Asstt.Year 1-6 118 to 123/Ahd/2019 Shri Hitesh Ashok The DCIT, Asstt.Years : 2009-10 to Vaswani Cent.Cir.1(1) 2014-15 10, Talka Nagar Ahmedabad. Old Vadaj Ashram Road Ahmedabad. PAN : AAOPV 7214 K 7-12 124 to 129/Ahd/2019 Smt.Vanita Dilip The DIT 2009-10 to 2014-15 Vaswani Cent.Cir.1(1) 2, Shree Samprat Ahm…

M/S. Venus Infrabuild, Ahmedabad vs. The Dy.CIT., Cent.Circle-1(1), Ahmedabad

ITA 834/AHD/2019[2012-13]Status: DisposedITAT Ahmedabad12 Nov 2020AY 2012-13

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

…Shri Dilipkumar Lalwani and Others (107 Appeals) आयकरअपील"यअ"धकरण, अहमदाबाद"यायपीठ- अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD – BENCH ‘A’ [Conducted Through Virtual Court] BEFORE SHRI RAJPAL YADAV, VICE-PRESIDENT AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER Appellant Sr.No. IT(SS)A.No. Respondent Asstt.Year 1-6 118 to 123/Ahd/2019 Shri Hitesh Ashok The DCIT, Asstt.Years : 2009-10 to Vaswani Cent.Cir.1(1) 2014-15 10, Talka Nagar Ahmedabad. Old Vadaj Ashram Road Ahmedabad. PAN : AAOPV 7214 K 7-12 124 to 129/Ahd/2019 Smt.Vanita Dilip The DIT 2009-10 to 2014-15 Vaswani Cent.Cir.1(1) 2, Shree Samprat Ahm…

DCIT, Central Circle -1(1), Ahmedabad vs. Shri Deepak Kumar Vaswani, Ahmedabad

ITA 807/AHD/2019[2008-09]Status: DisposedITAT Ahmedabad12 Nov 2020AY 2008-09

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

…Shri Dilipkumar Lalwani and Others (107 Appeals) आयकरअपील"यअ"धकरण, अहमदाबाद"यायपीठ- अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD – BENCH ‘A’ [Conducted Through Virtual Court] BEFORE SHRI RAJPAL YADAV, VICE-PRESIDENT AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER Appellant Sr.No. IT(SS)A.No. Respondent Asstt.Year 1-6 118 to 123/Ahd/2019 Shri Hitesh Ashok The DCIT, Asstt.Years : 2009-10 to Vaswani Cent.Cir.1(1) 2014-15 10, Talka Nagar Ahmedabad. Old Vadaj Ashram Road Ahmedabad. PAN : AAOPV 7214 K 7-12 124 to 129/Ahd/2019 Smt.Vanita Dilip The DIT 2009-10 to 2014-15 Vaswani Cent.Cir.1(1) 2, Shree Samprat Ahm…

The DCIT, Central Circle-1(1), Ahmedabad vs. Shri Ashok Sunderdas Vaswani, Ahmedabad

ITA 806/AHD/2019[2008-09]Status: DisposedITAT Ahmedabad12 Nov 2020AY 2008-09

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

…Shri Dilipkumar Lalwani and Others (107 Appeals) आयकरअपील"यअ"धकरण, अहमदाबाद"यायपीठ- अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD – BENCH ‘A’ [Conducted Through Virtual Court] BEFORE SHRI RAJPAL YADAV, VICE-PRESIDENT AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER Appellant Sr.No. IT(SS)A.No. Respondent Asstt.Year 1-6 118 to 123/Ahd/2019 Shri Hitesh Ashok The DCIT, Asstt.Years : 2009-10 to Vaswani Cent.Cir.1(1) 2014-15 10, Talka Nagar Ahmedabad. Old Vadaj Ashram Road Ahmedabad. PAN : AAOPV 7214 K 7-12 124 to 129/Ahd/2019 Smt.Vanita Dilip The DIT 2009-10 to 2014-15 Vaswani Cent.Cir.1(1) 2, Shree Samprat Ahm…

The DCIT, Central Circle-1(1), Ahmedabad vs. Shri Rajesh Sunderdas Vaswani, Ahmedabad

ITA 805/AHD/2019[2008-09]Status: DisposedITAT Ahmedabad12 Nov 2020AY 2008-09

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

…Shri Dilipkumar Lalwani and Others (107 Appeals) आयकरअपील"यअ"धकरण, अहमदाबाद"यायपीठ- अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD – BENCH ‘A’ [Conducted Through Virtual Court] BEFORE SHRI RAJPAL YADAV, VICE-PRESIDENT AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER Appellant Sr.No. IT(SS)A.No. Respondent Asstt.Year 1-6 118 to 123/Ahd/2019 Shri Hitesh Ashok The DCIT, Asstt.Years : 2009-10 to Vaswani Cent.Cir.1(1) 2014-15 10, Talka Nagar Ahmedabad. Old Vadaj Ashram Road Ahmedabad. PAN : AAOPV 7214 K 7-12 124 to 129/Ahd/2019 Smt.Vanita Dilip The DIT 2009-10 to 2014-15 Vaswani Cent.Cir.1(1) 2, Shree Samprat Ahm…

Shri Deepak Budharmal Vaswani, Ahmedabad vs. DCIT, Central Circle -1(1), Ahmedabad

ITA 461/AHD/2019[2008-09]Status: DisposedITAT Ahmedabad12 Nov 2020AY 2008-09

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

…Shri Dilipkumar Lalwani and Others (107 Appeals) आयकरअपील"यअ"धकरण, अहमदाबाद"यायपीठ- अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD – BENCH ‘A’ [Conducted Through Virtual Court] BEFORE SHRI RAJPAL YADAV, VICE-PRESIDENT AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER Appellant Sr.No. IT(SS)A.No. Respondent Asstt.Year 1-6 118 to 123/Ahd/2019 Shri Hitesh Ashok The DCIT, Asstt.Years : 2009-10 to Vaswani Cent.Cir.1(1) 2014-15 10, Talka Nagar Ahmedabad. Old Vadaj Ashram Road Ahmedabad. PAN : AAOPV 7214 K 7-12 124 to 129/Ahd/2019 Smt.Vanita Dilip The DIT 2009-10 to 2014-15 Vaswani Cent.Cir.1(1) 2, Shree Samprat Ahm…

Shri Rajesh Sunderdas Vaswani, Ahmedabad vs. The DCIT, Central Circle-1(1), Ahmedabad

ITA 457/AHD/2019[2008-09]Status: DisposedITAT Ahmedabad12 Nov 2020AY 2008-09

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

…Shri Dilipkumar Lalwani and Others (107 Appeals) आयकरअपील"यअ"धकरण, अहमदाबाद"यायपीठ- अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD – BENCH ‘A’ [Conducted Through Virtual Court] BEFORE SHRI RAJPAL YADAV, VICE-PRESIDENT AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER Appellant Sr.No. IT(SS)A.No. Respondent Asstt.Year 1-6 118 to 123/Ahd/2019 Shri Hitesh Ashok The DCIT, Asstt.Years : 2009-10 to Vaswani Cent.Cir.1(1) 2014-15 10, Talka Nagar Ahmedabad. Old Vadaj Ashram Road Ahmedabad. PAN : AAOPV 7214 K 7-12 124 to 129/Ahd/2019 Smt.Vanita Dilip The DIT 2009-10 to 2014-15 Vaswani Cent.Cir.1(1) 2, Shree Samprat Ahm…

Shri Ashok Sunderdas Vaswani, Ahmedabad vs. The DCIT, Central Circle-1(1), Ahmedabad

ITA 456/AHD/2019[2008-09]Status: DisposedITAT Ahmedabad12 Nov 2020AY 2008-09

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

…Shri Dilipkumar Lalwani and Others (107 Appeals) आयकरअपील"यअ"धकरण, अहमदाबाद"यायपीठ- अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD – BENCH ‘A’ [Conducted Through Virtual Court] BEFORE SHRI RAJPAL YADAV, VICE-PRESIDENT AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER Appellant Sr.No. IT(SS)A.No. Respondent Asstt.Year 1-6 118 to 123/Ahd/2019 Shri Hitesh Ashok The DCIT, Asstt.Years : 2009-10 to Vaswani Cent.Cir.1(1) 2014-15 10, Talka Nagar Ahmedabad. Old Vadaj Ashram Road Ahmedabad. PAN : AAOPV 7214 K 7-12 124 to 129/Ahd/2019 Smt.Vanita Dilip The DIT 2009-10 to 2014-15 Vaswani Cent.Cir.1(1) 2, Shree Samprat Ahm…

Reshma Tools & Engg. P.Ltd, Mumbai vs. ITO WD 3, Thane

ITA 801/MUM/2016[2009-10]Status: DisposedITAT Mumbai10 Oct 2018AY 2009-10

Bench: Hon’Ble Sh. Sandeep Gosain, Jm & Hon’Ble Sh. N. K. Pradahan, Am आयकरअपीलसं./ I.T.A. No. 801/Mum/2016 (निर्धारणवर्ा / Assessment Year: 2009-10)

For Appellant: Shri B. V. Jhaveri ARFor Respondent: Shri Rajora Satish C
Section 143(2)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE HON’BLE SH. SANDEEP GOSAIN, JM & HON’BLE SH. N. K. PRADAHAN, AM आयकरअपीलसं./ I.T.A. No. 801/Mum/2016 (निर्धारणवर्ा / Assessment Year: 2009-10) ITO WD 3 Reshma Tools &Engg. Pvt. Ashar ITA Park Wagle Ltd. 2nd floor, Kapur House, बिधम/ Estate, Thane, Parajape B. Scheme, Rd. No. Vs. 1 Vile Parle (E) Pin- Mumbai-400705 स्थायीलेखासं./जीआइआरसं./ PAN No. AAACR5912M (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant by : Shri B. V. Jhaveri AR प्रत्यथीकीओरसे/Respondentby : Shri Rajora Satish C. Ramsevak, and Shri Ram Tiwari, DR सुनवाईकीतारीख…

Pr. Commissioner of Income Tax, Delhi - 1 vs. At & T Global Network Srervices (India) Pvt. Ltd

ITA/292/2018HC Delhi20 Aug 2018

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE CHANDER SHEKHAR

Section 142Section 143Section 144CSection 144C(8)Section 153Section 260A

…ITA 292/2018 Page 1 of 10 $~3 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 292/2018 Date of decision: 20 August, 2018 PR. COMMISSIONER OF INCOME TAX, DELHI – 1 ..... Appellant Through Mr. Zoheb Hossain, Sr. Standing Counsel with Mr. Deepak Anand, Advocates for Revenue versus AT & T GLOBAL NETWORK SERVICES (INDIA) PVT. LTD. ..... Respondent Through Mr. Sachit Jolly and Mr. Sidharth Joshi, Advocates CORAM: HON'BLE MR. JUSTICE SANJIV KHAN…

Pr.Commissinor of Income Tax vs. Jindal Dyechem Industries Pvt.Ltd

ITA/668/2016HC Delhi05 May 2017

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE CHANDER SHEKHAR

Section 142Section 143Section 153Section 260ASection 2C

…ITA 668/2016 Page 1 of 7 $~ * IN THE HIGH COURT OF DELHI AT NEW DELHI 11 + ITA 668/2016 PR.COMMISSINOR OF INCOME TAX-5 ..... Appellant Through: Mr. Rahul Chaudhary, Senior Standing counsel. versus JINDAL DYECHEM INDUSTRIES PVT. LTD. ..... Respondent Through: Mr. Salil Aggarwal with Mr. Madhur Aggarwal, Advocates. CORAM: JUSTICE S. MURALIDHAR JUSTICE CHANDER SHEKHAR O R D E R % 05.05.2017 Dr. S. Muralidhar,…

Asst CIT Cir 2, Thane vs. Salasar Developers, Thane

The appeals of the Revenue are dismissed

ITA 4513/MUM/2014[2006-07]Status: DisposedITAT Mumbai04 Apr 2017AY 2006-07

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 132Section 132(3)Section 133ASection 143(3)Section 153A

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, ई, मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “E”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी एन. के. "धान, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri N.K. Pradhan, Accountant Member ITA NOs.4511 to 4513/Mum/2014 Assessment Years: 2004-05 to 2006-07 ACIT, M/s Salasar Developers, Circle-2, Ground Floor, Vrindavan, बनाम/ Thane Salasar Brijbhoomi, Temba Vs. Hospital Road, Bhayandar(W), Dist:-Thane-401101 (राज"व /Revenue) ("नधा"रती /Assessee) PAN. No. AAKFS6465R "नधा"रती क" ओर से / Assessee by Shri Virag H. Shah Shri H.N. Singh CIT-DR…

Asst CIT Cir 2, Thane vs. Salasar Developers, Thane

The appeals of the Revenue are dismissed

ITA 4512/MUM/2014[2005-06]Status: DisposedITAT Mumbai04 Apr 2017AY 2005-06

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 132Section 132(3)Section 133ASection 143(3)Section 153A

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, ई, मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “E”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी एन. के. "धान, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri N.K. Pradhan, Accountant Member ITA NOs.4511 to 4513/Mum/2014 Assessment Years: 2004-05 to 2006-07 ACIT, M/s Salasar Developers, Circle-2, Ground Floor, Vrindavan, बनाम/ Thane Salasar Brijbhoomi, Temba Vs. Hospital Road, Bhayandar(W), Dist:-Thane-401101 (राज"व /Revenue) ("नधा"रती /Assessee) PAN. No. AAKFS6465R "नधा"रती क" ओर से / Assessee by Shri Virag H. Shah Shri H.N. Singh CIT-DR…

Asst CIT Cir 2, Thane vs. Salasar Developers, Thane

The appeals of the Revenue are dismissed

ITA 4511/MUM/2014[2004-05]Status: DisposedITAT Mumbai04 Apr 2017AY 2004-05

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 132Section 132(3)Section 133ASection 143(3)Section 153A

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, ई, मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “E”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी एन. के. "धान, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri N.K. Pradhan, Accountant Member ITA NOs.4511 to 4513/Mum/2014 Assessment Years: 2004-05 to 2006-07 ACIT, M/s Salasar Developers, Circle-2, Ground Floor, Vrindavan, बनाम/ Thane Salasar Brijbhoomi, Temba Vs. Hospital Road, Bhayandar(W), Dist:-Thane-401101 (राज"व /Revenue) ("नधा"रती /Assessee) PAN. No. AAKFS6465R "नधा"रती क" ओर से / Assessee by Shri Virag H. Shah Shri H.N. Singh CIT-DR…

The Commissioner of Income TAx-IV vs. Sajjan Kumar Mann

ITTA/668/2016HC Telangana05 Dec 2016

Bench: ANIS,SANJAY KUMAR

Balaji Universal Tradelink P.Ltd, Mumbai vs. DCIT Cen Cir 40, Mumbai

The appeals of the assessee are allowed and that of the Revenue are dismissed

ITA 2183/MUM/2013[2004-05]Status: DisposedITAT Mumbai31 Oct 2016AY 2004-05

Bench: Shri Joginder Singh & Shri Sanjay Arora

Section 132(3)Section 133ASection 143(3)Section 153A

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, बी, मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “B”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी संजय अरोड़ा, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri Sanjay Arora, Accountant Member ITA NO.2183/Mum/ 2013 Assessment Years:2004-05 M/s Balalji Universal vs DCIT, Tradelink Pvt. Ltd., Central Circle-40, C-71/75, 7th Floor, Room No.653, 6th Floor, Mittal Tower, Aayakar Bhavan Nariman Point, M.K.Road, Mumbai-400021 Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) PAN. No.AABCL0236H ITA NOs.2184 to 2186/Mum/2013 Assessment Years:2005-0…

Sanat M Dalal Securities P.Ltd, Mumbai vs. CIT(A)-14, Mumbai

In the result, appeal filed by the assessee is allowed

ITA 5568/MUM/2014[2008-09]Status: DisposedITAT Mumbai05 Oct 2016AY 2008-09

Bench: Shri B.R. Baskaran (Am)& Ramlal Negi (Jm)

Section 194JSection 201Section 201(1)

…ct and levied interest u/s. 201(1A) of the Act. Learned CIT(A) also confirmed the same. 3. We have noticed that the above said issue has since been decided by Hon'ble Supreme Court in favour of the assessee in the case of CIT Vs. Kotak Securities Ltd. (2016) 384 ITR 1, wherein it was held that the transaction charges paid to the stock exchange is for providing facility and it is not fees for technical services and hence no tax is required to be deducted u/s. 194J of the Act. Accordingly, following the decision rendered by Hon'ble Supreme Court(supra), we set aside the order passed by learned CIT(A) and direct th…