2016 (7) TMI 1604

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the appeals by the Revenue relating to Assessment Years 2010-11 & 2011-12 involve a common issue and therefore they have been clubbed together and heard together and a consolidated order is being passed for the sake of convenience and brevity. 2. ITA No. 1436/Mum/2015 pertaining to Assessment Year 2010-11 is taken as a lead case. This appeal of the Revenue is directed against the order of CIT(A) .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e provisions of the Companies Act, 1956 and is, inter-alia, engaged in the business of credit card operations and financing payments through credit cards, debit cards and forex operations. In the course of assessment proceedings, the Assessing Officer noticed that assessee had paid tax in respect of the charges for services provided by Visa/Mastercard International on the ground that such an expen .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... s deleted such addition and following the aforesaid precedents, he has since deleted the addition in the instant year also. Against such a decision of the CIT(A), Revenue is in appeal before us. 5. Before us, it was a common point between the parties that the precedents relied upon by CIT(A) in order to delete the addition continue to hold the field and they have not been altered by any higher au .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X