https://www.taxtmi.com/caselaws?id=183214 The Tribunal upheld the CIT(A)'s decision in favor of the assessee regarding the disallowance of expenses under section 40(a)(ia) for fees for technical services. The Tribunal ruled that charges were not tax-deductible as the stock exchange did not provide technical services. In the case of claiming a rebate under section 88E for futures and options profit, the Tribunal agreed with the CIT(A) that the rebate should be allowed if income tax was paid on such profits. However, a factual verification was ordered regarding the payment of securities transaction tax on open positions, leading to a partial allowance of the department's appeal. The issue was remanded for further verification by the Assessing Officer. en-us Wed, 15 Sep 2010 00:00:00 +0530 Wed, 01 Jun 2016 17:40:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183214 The Tribunal upheld the CIT(A)'s decision in favor of the assessee regarding the disallowance of expenses under section 40(a)(ia) for fees for technical services. The Tribunal ruled that charges were not tax-deductible as the stock exchange did not provide technical services. In the case of claiming a rebate under section 88E for futures and options profit, the Tribunal agreed with the CIT(A) that the rebate should be allowed if income tax was paid on such profits. However, a factual verification was ordered regarding the payment of securities transaction tax on open positions, leading to a partial allowance of the department's appeal. The issue was remanded for further verification by the Assessing Officer. Case-Laws Income Tax Wed, 15 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183214