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2016 (9) TMI 1146 - AT - Income TaxDisallowance in respect of fee paid to SEBI - Held that:- CIT(A) has rightly respectfully followed the decision in the case of CIT vs. BLB Ltd. reported [2010 (3) TMI 907 - DELHI HIGH COURT] by observing that the assessee was required to pay a fee to SEBI. The assessee filed an appeal before the Securities Appellate Tribunal who passed the order dismissing the appeal and thereafter the assessee made the payment. The amount was therefore paid during the year. In view of the discussion above the amount was rightly allowed as a deduction to the assessee and thus addition was deleted and ground of appeal was ruled in favour of the assessee. Re-computing and allowing long term capital loss after considering indexation - Held that:- CIT(A) has rightly observed that the AO determined long term capital loss at ₹ 75 lacs but did not allow indexation of cost. However, the assessee has stated that the loss after indexation works out to RS.1,19,10,163/-. Therefore, the Ld. CIT(A) was right in directing the AO to re-compute and allow the loss after considering indexation. In view of the above, CIT(A) has passed a well reasoned order which does not need any interference - Decided against revenue
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