In Itxa/942/2011 Of The Commissioner Of Income Tax -4 Mumbai v. Magnum Equity Broking Ltd, the High Court (2011) dismissed the appeal. The decision went in favour of the assessee.
Decision: In this view of the matter, the appeal is dismissed with no order as to costs.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
1 itxal-2908-09
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL (LOD) NO.2908 OF 2009
The Commissioner of Income Tax-4
..Appellant.
V/s.
Magnum Equity Broking Ltd.
..Respondent.
Mr. Vimal Gupta for appellant.
Mr. A.K. Jasani for respondent.
CORAM : J.P. DEVADHAR AND MRS. MRIDULA BHATKAR, JJ.DATED : 22ND FEBRUARY, 2011
P.C. :-
1.Counsel for the revenue states that question sought to be raised in this appeal is covered against the revenue by the decision of the Apex Court in case of Techno Shares and Stocks Ltd. V/s. CIT reported in [2010] 327 ITR 323 (SC). In this view of the matter, the appeal is dismissed with no order as to costs.
(MRS. MRIDULA BHATKAR, J.)
(J.P. DEVADHAR, J.)
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