Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TDS :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: empanelment :: form 3cd :: VAT RATES :: articles on VAT and GST in India :: cpt :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
From the Courts »
  Micro Spacematrix Solution P Ltd vs. ITO (ITAT Delhi)
 Micro Spacematrix Solution P Ltd vs. ITO (ITAT Delhi)
 CIT vs. Greenfield Hotels & Estates Pvt. Ltd (Bombay High Court)
 IndiaBulls Financial Services Ltd vs. DCIT (Delhi High Court)
 Maharao Bhim Singh of Kota vs. CIT (Supreme Court)
 Ravneet Takhar Vs. Commissioner Of Income Tax Ix And Ors.
 Jaiprakash Associates Ltd. Vs. Commissioner Of Income Tax
 Formula One World Championship Limited Vs. Commissioner Of Income Tax, International Taxation-3 And Anr.
 Commissioner Of Income Tax International Taxation-3 Delhi Vs. Formula One World Championship Ltd. And Anr.
 Reliance Communications Ltd vs. DDIT (ITAT Mumbai)
  Sushila Devi vs. CIT (Delhi High Court)

M/s. Kotak Securities Ltd. 1st Bakthawar, 229 Nariman Point, Mumbai 400021 Vs. Addl. CIT, Range 4(3) Aayakar Bhavan, M.K. Road Mumbai 400020
September, 05th 2014
                                                                                An
              IN THE INCOME TAX APPELLATE TRIBUNAL
                         "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

                                 ORDER

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
supra.

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
n.p.
Annexure - 1

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions