2013 (5) TMI 947

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....K. BILLAIYA, AM: With this appeal the Revenue has challenged the correctness of the order of the Ld. CIT(A)-9, Mumbai dt. 19.10.2010 pertaining to assessment year 2007-08. 2. The sum and substance of the grievance of the Revenue is that the Ld. CIT(A) erred in deleting the disallowance of Rs. 54,12,157/- made u/s. 40A(ia) in respect of charges paid to Stock Exchange. 3. A perusal of the a....

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....ar as charges on account of Vsat charges and Leaseline charges, the issue is now well settled in favour of the assessee by the decision of the Hon'ble Jurisdictional High Court in the case of ITO Vs Angel Capital & Debit Market Ltd. in ITA (L) 475 of 2011 decided on 28th July, 2011. This leaves the issue of deductability of transaction charges of Rs. 50,30,187/-, the Ld. Counsel for the assessee f....