The Commissioner Of Income Tax-4 v. M/S.star Share & Stock Brokers P. Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1343 OF 2011 The Commissioner of Income Tax-4. v. M/s.Star Share & Stock Brokers P. Ltd. ..Appellant. ..Respondent. Mr. A.R.Malhotra for the Appellant.None for the Respondent. CORAM : J.P. DEVADHAR AND M.S. SANKLECHA, JJ. DATE : 08TH FEBRUARY, 2013. PC: In this appeal by the revenue for assessment year 2006-07, following question of law has been raised for our consideration. (a)Whether on the facts and in the circumstances of the case the Tribunal in law was right in deleting the disallowance of Rs.3,10,61,733/- made in respect of VSAT , Lease Line and 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)So far as whether VSAT and Lease Line charges are concerned, Counsel for the revenue states that this issue is covered against the revenue and in favour of the assessee by the ASN decision of this Court in Income Tax Appeal No.475 of 2011 in Income Tax Commissioner Vs. Angel Capital & Debit Market Ltd. rendered on 28/7/2011. Thus, VSAT and Lease Line charges are concerned, we do not entertain the question. 3) So far as transaction charges referred to in the question are concerned, we find that this issue was not raised before the Tribunal. Hence, question raised with regard to deletion of transaction charges cannot be said to be arise out of the order of the Tribunal. Therefore, no question in respect of transaction charges arises for our consideration. 4)Accordingly, the appeal is dismissed with no order as to costs. (M.S.SANKLECHA, J.) (J.P. DEVADHAR, J.)