ADDL CIT RG 4(2), MUMBAI V. CITIGROUP GLOBAL MARKETS INDIA P. LTD, MUMBAI

ITA 179/MUM/2010

• Counselvise Citation: [2011] 140 COUNSELVISE.COM (IT) 48447 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 3 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-04-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 30-03-2011
• Assessment Year: 2005-2006
• Appeal Filed On: 08-01-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AJIT KUMAR SINHA
• Assessee Lawyers: A V SONDE
• Keywords: TDS

Judgement Text

1 ITA NO. 179/MUM/2010 ASSESSMENT YEAR : 2005-06. IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH C, MUMBAI BEFORE SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER & SHRI VIJAY PAL RAO, JUDICIAL MEMBER. I.T.A. NO. 179/MUM/2010 ASSESSMENT YEAR : 2005-06. ADDL. COMMISSIONER OF CITY GROUP GLOBAL MARKETS INCOME-TAX, RANGE-4(2), VS. INDIA PVT. LTD., MUMBAI. MUMBAI. APPELLANT. RESPONDENT. APPELLANT BY : SHRI AJI T KUMAR SINHA. RESPONDENT BY: S HRI A.V. SONDE. O R D E R PER J. SUDHAKAR REDDY : THIS IS AN APPEAL FILED BY THE REVENUE DIRECTED A GAINST THE ORDER OF THE CIT(APPEALS)-8, MUMBAI DATED 20-10-2009. 2. THE ISSUE IN DISPUTE IS THE DELETION BY THE CIT( APPEALS) OF THE DISALLOWANCE MADE BY THE AO IN RESPECT OF VSAT, LEASE LINE AND TRANSACTION CHARGES U/S 40A(IA) ON THE GROUND THAT THE ASSESSEE HAS FAILE D TO DEDUCT TDS. THE FIRST APPELLATE AUTHORITY FOLLOWED THE DECISION OF THE JU RISDICTIONAL TRIBUNAL IN THE CASE OF KOTAK SECURITIES LTD. 318 ITR (AT) 268 (MUM) AN D DELETED THE DISALLOWANCE. 3. AFTER HEARING BOTH THE PARTIES, WE HOLD THAT THE ISSUE STANDS COVERED BY THE DECISION OF THE MUMBAI BENCH OF THE TRIBUNAL IN THE CASE OF KOTAK SECURITIES LTD. 2 ITA NO. 179/MUM/2010 ASSESSMENT YEAR : 2005-06. (SUPRA) AS WELL AS THE DECISION IN THE CASE OF DCIT VS. ENGLE BROKING LTD. 35 SOT 457 (MUM). RESPECTFULLY FOLLOWING THE SAME, WE UPHO LD THE ORDER OF THE FIRST APPELLATE AUTHORITY AND DISMISS THE APPEAL OF THE R EVENUE. 4. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED ON THIS 8 TH DAY OF APRIL, 2011. SD/- SD/- (VIJAY PAL RAO) (J. SUDHAKAR RED DY) JUDICIAL MEMBER ACCOUNTAN T MEMBER MUMBAI, DATED: 8 TH APRIL, 2011. WAKODE COPY TO : 1. APPELLANT 2. RESPONDENT 3. C.I.T. 4. CIT(A) 5. DR, C-BENCH (TRUE COPY) BY ORDE R ASSTT. REGIST RAR, ITAT, MUMBAI BEN CHES