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2018 (11) TMI 1174 - HC - Income TaxDisallowance u/s 14A - Held that:- It is accepted and admitted that the assessee had not earned any exempt income in this year. In these circumstances, following the ratio of the decisions of this Court in Commissioner of Income Tax-IV versus Holcim India Private Limited, (2014 (9) TMI 434 - DELHI HIGH COURT) and Cheminvest Limited versus Commissioner of Income Tax-VI, (2015 (9) TMI 238 - DELHI HIGH COURT) and our decision in Principal Commissioner of Income Tax-6, New Delhi versus Mcdonald’s India Private Limited [2018 (11) TMI 1057 - DELHI HIGH COURT] no substantial question of law arises as the issue is covered by the aforesaid decisions against the Revenue. TDS u/s 194J - Failure on the part of the assessee in deducting TDS on listing and custodian fee paid to National Stock Exchange, Bombay Stock Exchange and National Securities Depository Limited u/s 194J - Held that:- This issue whether TDS was required to be deducted is covered against the Revenue vide decision of the Supreme Court in CIT Vs. Kotak Securities Limited (2016 (3) TMI 1026 - SUPREME COURT) as held that Section 194J is attracted when an assessee avails of specialized, exclusive and individual services and not when it avails of common general facilities and services which are faceless, screen based transactions. Accordingly, membership fee for listing and custodian fee paid to a stock exchange would not be covered by the definition of the term "technical services" under Section 194J of the Act on which TDS was required to be deducted.
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