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DCIT, Range 4(3) Aayakar Bhavan, M.K. Road Mumbai 400020 Vs. M/s. Kotak Securities Ltd. 1st Bakthawar, 229 Nariman Point, Mumbai 400021
September, 04th 2014
                         "A" Bench, Mumbai

                Before Shri D. Manmohan, Vice President
                 and Shri Rajendra, Accountant Member

                ITA No. 2091, 2092 & 8310/Mum/2011
             (Assessment Years: 2006-07, 2007-08 & 2008-09)

     M/s. Kotak Securities Ltd.         Addl. CIT, Range 4(3)
     1st Bakthawar, 229 Nariman     Vs. Aayakar Bhavan, M.K. Road
     Point, Mumbai 400021               Mumbai 400020
                            PAN - AAACK3436F
               Appellant                        Respondent

                ITA No. 2622, 2624 & 8031/Mum/2011
             (Assessment Years: 2006-07, 2007-08 & 2008-09)

     DCIT, Range 4(3)                M/s. Kotak Securities Ltd.
     Aayakar Bhavan, M.K. Road   Vs. 1st Bakthawar, 229 Nariman
     Mumbai 400020                   Point, Mumbai 400021
                          PAN - AAACK3436F
              Appellant                      Respondent

                   Appellant by:    Shri F.V. Irani
                   Respondent by:   Capt. Pradeep Arya

                   Date of Hearing:       03.09.2014
                   Date of Pronouncement: 03.09.2014


Per Bench

     These cross appeals by the assessee and the Revenue pertain to
assessment years 2006-07 to 2008-09.

2.    At the time of hearing both the parties admitted that the issues
emerging out of these appeals are identical in all these appeals and,
therefore, we proceed to dispose of these appeals by a combined order for
the sake of convenience.

3.    During the course of hearing the learned counsel for the assessee filed
a chart mentioning the brief issues, grounds urged by the Assessee/Revenue
in these appeals and the quantum involved therein which is made as
Annexure 1 to this order. The learned counsel for the assessee relied upon
                                       2                ITA No. 2091+5/Mum/2011
                                                          M/s. Kotak Securities Ltd.

the following decisions of the Tribunal to submit that identical issues were
considered by the ITAT, Mumbai Benches wherein the matters were broadly
decided in favour of the assessee or set aside for taking appropriate decision
at the end of the AO on the lines indicated therein and, therefore, requested
that in the appeals before us also the Tax Authorities may be directed to
follow the ratio laid down in the that cases: -

i)     ITA No. 63/Mum/2010 dated 25.11.2011
ii)    ITA No. 5251/Mum/2010 dated 11.04.2012
iii)   ITA No. 4139, 4140 & 4141/Mum/2011 dated 13.02.2013
iv)    ITA No. 1817 & 1818/Mum/2011 dated 27.03.2014
v)     ITA No. 7271 to 7274/Mum/2010, ITA No.7334&7335/Mum/2010 &
       ITA No. 8313/Mum/2011 dated 16.01.2013
vi)    ITA No. 8297/Mum/2011 dated 23.11.2012
vii)   ITA No. 8404, 1819 & 1730/Mum/2011 dated 29.11.2012

4.     At the time of hearing both the parties admitted that it would be
sufficient if a direction is given to the AO to follow the ratio laid down in the
above mentioned cases.

5.     Having regard to the circumstances of the case we hereby set aside
the orders passed by the CIT(A) on the impugned issues and direct the AO to
follow the ratio laid down by the ITAT, Mumbai Benches in the cases cited

6.     In the result, all the appeals filed by the assessee company as well as
the Revenue are disposed of accordingly.

Order pronounced in the open court on 3rd September, 2014.

                Sd/-                                      Sd/-
             (Rajendra)                             (D. Manmohan)
         Accountant Member                           Vice President

Mumbai, Dated: 3rd September, 2014
                                       3               ITA No. 2091+5/Mum/2011
                                                         M/s. Kotak Securities Ltd.

Copy to:

   1.   The   Appellant
   2.   The   Respondent
   3.   The   CIT(A) ­ 10, Mumbai
   4.   The   CIT­ 4, Mumbai City
   5.   The   DR, "A" Bench, ITAT, Mumbai

                                                      By Order

//True Copy//
                                                   Assistant Registrar
                                           ITAT, Mumbai Benches, Mumbai
Annexure - 1
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