https://www.taxtmi.com/caselaws?id=218262 The appellate tribunal allowed the department's appeal regarding the tax deductibility of transaction charges fees paid to stock exchanges, following the Bombay High Court's decision that such charges constituted "fees for technical services" under Section 194J. The High Court highlighted the managerial services provided by the stock exchanges, making the assessee liable to deduct tax at source. The decision was applied to assessment years 2005-06, 2006-07, 2007-08, and 2008-09, with interest quantification referred back to the Assessing Officer for verification. en-us Fri, 08 Jun 2012 00:00:00 +0530 Thu, 08 Nov 2012 08:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218262 The appellate tribunal allowed the department's appeal regarding the tax deductibility of transaction charges fees paid to stock exchanges, following the Bombay High Court's decision that such charges constituted "fees for technical services" under Section 194J. The High Court highlighted the managerial services provided by the stock exchanges, making the assessee liable to deduct tax at source. The decision was applied to assessment years 2005-06, 2006-07, 2007-08, and 2008-09, with interest quantification referred back to the Assessing Officer for verification. Case-Laws Income Tax Fri, 08 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218262