2013 (5) TMI 947

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....eal the Revenue has challenged the correctness of the order of the Ld. CIT(A)-9, Mumbai dt. 19.10.2010 pertaining to assessment year 2007-08. 2. The sum and substance of the grievance of the Revenue is that the Ld. CIT(A) erred in deleting the disallowance of ₹ 54,12,157/- made u/s. 40A(ia) in respect of charges paid to Stock Exchange. 3. A perusal of the assessment order show that the amo....

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....aseline charges, the issue is now well settled in favour of the assessee by the decision of the Hon'ble Jurisdictional High Court in the case of ITO Vs Angel Capital & Debit Market Ltd. in ITA (L) 475 of 2011 decided on 28th July, 2011. This leaves the issue of deductability of transaction charges of ₹ 50,30,187/-, the Ld. Counsel for the assessee fairly conceded that this issue has been dec....