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2010 (5) TMI 651 - ITAT KOLKATARebate under the provisions of s. 88E in respect of Securities Transaction Tax – assessee contended that once the AO noted that the STT was paid on share trading operations of the appellant and income from these transactions was assessed under the head 'Profits and gains of business' and the appellant furnished evidence in prescribed Form 10DB, then the AO should not have disallowed the claim for rebate which was statutorily granted under s. 88E - Held that:- in the case Berger Paints (India) Ltd. (2002 -TMI - 12957 - CALCUTTA High Court) , ratio laid down in the decision is squarely applicable to the Present case as well, Since in the present case the appellant had furnished evidence in support of payment of STT in prescribed Form 10DB in the course of assessment, there was sufficient compliance to provisions of s. 88E, AO is directed to allow the rebate as Prescribed in s. 88E in respect of STT paid in respect of the share trading income, which has been assessed under the head 'Profits and gains of business', no infirmity in the aforesaid order of the learned CIT(A) and the same is hereby upheld, appeal of the Revenue is dismissed
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