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2015 (9) TMI 659 - AT - Income TaxTDS u/s 194C - profit sharing - Disallowance under section 40(a)(ia) - non deduction of tds - payments made by the assessee to jobbers / arbitragers - CIT(A) deleted disallowance - Held that:- We respectfully follow the order of the Tribunal in the case of M/s Asset Alliance Securities Pvt. Ltd. (2010 (7) TMI 720 - ITAT MUMBAI) and uphold the impugned order of the learned CIT(A) deleting the addition made by the Assessing Officer holding that the provisions of section 194C of the Act are not attracted in this case as the payments made by the assessee to jobbers / arbitragers represent share of the jobbers / arbitragers under the agreement which is on principal to principal basis. - Decided in favour of assessee. Computation of capital gain - CIT(A) reversing the order of AO deleted the disallowance made by the Assessing Officer in view of the specific provisions of section 55(2)(ab) wherein it is provided that the assessee should be allowed to take cost of the acquisition of the original BSE card as cost of acquisition of BSE equity shares - Held that:- CIT(A) warranting interference at the instance of the Department inasmuch as the learned CIT(A) accepted the claim of the assessee holding that the assessee was allowed to take the cost of acquisition as per the specific provisions of section 55(2)(ab) of the Act. DR has not brought anything on record contrary to the above noted specific provisions of the Act. - Decided against revenue.
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