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2016 (6) TMI 1164 - AT - Income TaxTDS u/s 194J - non deduction of TDS on payment of transaction charges paid to the Bombay Stock Exchange - Held that:- In view of the decision of CIT vs. Kotak Securities Ltd [2016 (3) TMI 1026 - SUPREME COURT] no disallowance is attracted in relation to the transaction charges paid to the stock exchange. The issue is thus covered in favour of the assessee on merits by the decision of the Hon'ble Supreme Court (supra). This issue is accordingly decided in favour of the assessee. Disallowance u/s 14A read with rule 8D - Held that:- We direct the AO to verify the claim of the assessee regarding the strategic investments and exclude the strategic investments while calculating the disallowance under rule 8D for the purpose of section 14A of the Income Tax Act. Hence, the matter is referred back to the AO to decide it afresh. Apportionment of expenses in relation to the share transaction activity by treating the same as speculative activity of the assessee under the provisions of explanation to section 73 - Held that:- Interest of justice will be well served, if opportunity is granted to the assessee to agitate the said ground before the Ld. CIT(A) and the Ld. CIT(A) decide the said ground on merits. We accordingly restore this issue to the file of the Ld. CIT(A) with a direction to decide this issue afresh
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