2016 (12) TMI 938

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.... the evidence placed on record having regard to amended provisions of sec. 201(1)/201(1A) of the Act." 2. The brief facts of the case are that the assessee is a private limited company engaged in the business of share broking and dealing in securities. During the course of assessment proceedings for the year under consideration by the ACIT, Range 4(1), it was noticed that the assessee has not deducted TDS on payment made on account of VSAT charges/BOLT & Ethernet charges to Stock Exchange amounting to Rs. 10,37,427/- as required as per provisions of sec.194-J of the Act. Accordingly, a disallowance under sec. 40(a)(ia) of the Income Tax Act, 1961 (in short 'the Act') was made by the Assessing Officer. 3. On the basis of information receiv....

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.... the record that a similar disallowance made in the scrutiny assessment for preceding year, i.e., Assessment Year 2007-08 stood deleted by the CIT(A) and, therefore, reliance was placed upon the said order even before CIT(A). 6. We have also noticed that in the course of scrutiny of assessment u/s 143(3) the Assessing Officer disallowed assessee's claim for VSAT and lease line charges paid to BSE/NSE invoking provisions of section 40(a)(ia), treating the same as Fee for technical services since the assessee did not deduct tax at source u/s 194C and 194J. However, on the similar ground, the coordinate Bench of ITAT in the case of M/s. Centrum Broking Pvt. Ltd. (ITA No. 158/Mum/2015) has decided this issue, wherein disallowance so made by th....