The Commissioner Of Income Tax – 4, Mumbai v. Alchemy Share & Stock Brokers Private Limited

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (L) NO.719 OF 2011 The Commissioner of Income Tax – 4, Mumbai ..Appellant. Versus Alchemy Share & Stock Brokers Private Limited..Respondent. Mr.Vimal Gupta for the appellant.Mr.S.C. Tiwari with Ms.Natasha Mangat for the respondent. CORAM : J.P. Devadhar &A.R. Joshi, JJ. DATE : 22[nd] November 2011 P.C. : 1.Counsel for the parties state that in view of the judgment of this Court in the case of Commissioner of Income Tax V/s. M/s.Kotak Securities Limited in Income Tax Appeal No.3111 of 2009 decided on 21[st] October 2011, the impugned order of the Income Tax Appellate Tribunal dated 31[st ]December 2010 passed in ITA No.6326/M/2008 relating to assessment year 2005-2006 be quashed and set aside and the matter be restored to the file of the Income Tax Appellate Tribunal for fresh consideration in the light of aforesaid judgment. Accordingly, the order dated 31[st] December 2010 passed by the Income Tax Appellate Tribunal in ITA No.6326/M/2008 in so far as it relates to the transaction charges and dis-allowance of depositary charges paid to the stock exchange is quashed and aside and the matter is restored to the file of the Income Tax Appellate Tribunal for fresh decision in accordance with law. 3.The appeal is disposed off accordingly with no order as to costs. (A.R. Joshi, J.) (J.P. Devadhar, J.)