2013 (9) TMI 1251

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.... appeal by the Revenue is directed against the order passed by the CIT(A)-8, Mumbai and it pertains to A.Y. 2007-08.  2. The following grounds were urged before us: - "1. (i) On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in deleting the disallowance of Rs. 2,14,832/- made in respect of transaction charges, Leaseline charges of Rs. 7,835/- and V....

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...., the Ld. CIT(A) has overlooked the fact that the brokers have in subsequent years themselves started deducting the TDS on such payments and that there is no reason to give a different treatment in this year. 2. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in deleting the addition of Rs. 7,98,513/- made in respect of mark to market losses of open inte....

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.... the findings of the learned CIT(A).  4. We have heard the learned D.R. and carefully perused the record. As regards ground No. 1 urged by the Revenue, the facts in short are that the AO was of the view that the VSAT and Leaseline charges paid by the assessee to the Exchange should be treated as 'fees for technical services' in which event tax has to be deducted at source and in the event ....

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....le preparing books of account the assessee computed its F&O profits after booking a loss of Rs. 7,98,513/- in respect of the difference in valuation, which was explained by the assessee, vide its letter dated 15.12.2009 as under: - "Regarding proposed disallowance of Rs. 7,98,513/- as on 31.3.2007 of mark to market loss in respect of open contracts of the derivatives we would like to draw....