The Commissioner Of Income Tax-4 v. M/S. Sykes & Rays Equities (I) Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1506 OF 2011 The Commissioner of Income Tax-4. ..Appellant. v. M/s. Sykes & Rays Equities (I) Ltd...Respondent. Mr. A.R.Malhotra for the Appellant.None for the Respondent. CORAM : J.P. DEVADHAR AND M.S. SANKLECHA, JJ. DATE : 20TH FEBRUARY, 2013 PC: In this appeal by the revenue following question of law has been raised for our consideration. Whether on the facts and in the circumstances of the case and in law the Tribunal was right in deleting the dis-allowance of Rs.56,65,747/- made in respect of Transaction charges without realizing the fact that these were composite charges for professional and technical services rendered by the exchange to its members and the assessee has failed to deduct TDS thereon? 2)Mr. Malhotra, Counsel for the revenue fairly states that the issue raised in this appeal stands covered against the revenue and in favour of the assessee by the decision of this court in the matter of CIT v. Kotak Securities Limited reported in 340 ITR 333. 3)In view of the above, we see no reason to entertain the proposed question of law. 4)Accordingly, the appeal is dismissed with no order as to costs. (M.S.SANKLECHA, J.) (J.P. DEVADHAR, J.)