TMI Blog2010 (2) TMI 1259X X X X Extracts X X X X X X X X Extracts X X X X ..... 2. Ground Nos. 1 to 6 of this appeal pertain to disallowance of ₹ 1,08,833/- of V-SAT charges and ₹ 5,13,287/- of Transaction charges under section 40(a)(ia). The A.O. has discussed this issue vide para 3.1 to 3.9 and held that V-SAT and Transaction charges paid to Stock Exchange are for technical services and therefore TDS was deductible under section 194J. Since the TDS was not m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nical services rendered, so the TDS is not deductible on the same. Accordingly he directed the A.O. to allow the above amounts. 3. The learned D.R. relied on the order of the A.O. whereas the learned counsel on the CIT(A) s order. Further it was submitted that with reference to the payment made by the members to its Stock Exchange for V-SAT/ Lease Line/BOLT/Demat charges it was held by the ITAT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rrectly came to the conclusion that these charges are not fees for technical services. Accordingly, respectfully following the Coordinate Bench decisions relied upon (supra) the order of the CIT(A) is confirmed and the grounds are rejected. 5. Ground No. 7 pertains to the issue of set off of brought forwards loss against the brokerage income stating that Explanation to Section 73 is not applica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al order. Since the issue is one of set off of brought forward losses, the A.O. is directed to allow the set off, if the earlier years loss is quantified as a business loss according to the provisions of law. The ground is infact infructuous and accordingly rejected. 7. Ground Nos. 8 9 are general in nature which require no adjudication. 8. In the result, appeal is dismissed. Order pronoun ..... X X X X Extracts X X X X X X X X Extracts X X X X
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