TMI Blog2012 (9) TMI 913X X X X Extracts X X X X X X X X Extracts X X X X ..... s paid to the Stock Exchange are not paid in consideration of technical services. Therefore, there is no need for deducting tax. The same principles were reiterated by the Hon'ble Bombay High Court in the case of CIT vs. Stock and Bond Trading Company in [2011 (10) TMI 172 - BOMBAY HIGH COURT] wherein VSAT charges, NSE lease line charges and transaction charges were considered and held against ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ies ltd [2008 (8) TMI 592 - ITAT MUMBAI] and Angel Broking Ltd [2009 (12) TMI 498 - ITAT MUMBAI], we are of the opinion that there is no need to disturb the order of the CIT (A). - Decided against Revenue. - ITA No.8105/Mum/2010 - - - Dated:- 28-9-2012 - Shri I.P. Bansal And Shri B. Ramakotaiah JJ. For the Appellant : Shri Om Prakash Meena, DR For the Respondent : Shri Satish Mody ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TDS was not made. 3. On assessee s submissions before the CIT (A), the CIT (A) held that the issue is covered by the decision in the case of Kotak Securities vs. Addl. CIT (124 TTJ 241 (Mum) and DCIT vs. Angel Broking Ltd (35 SOT 457 (Mum) while holding that no TDS was deductible on payments to Stock Exchange, the provisions of section 40(a)(ia) were not applicable. However, he directed AO to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Hon'ble Bombay High Court in the case of CIT vs. Stock and Bond Trading Company in ITA No.4117 of 2010 dated 14th October,2011 wherein VSAT charges, NSE lease line charges and transaction charges were considered and held against the Revenue following the decision in the case of DCIT vs. Angel Broking Ltd (Supra). The same principles were reiterated in the case of CIT vs. Kotak Securities Ltd ..... X X X X Extracts X X X X X X X X Extracts X X X X
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