2014 (5) TMI 192

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..... , the assessee was liable to deduct tax at source while crediting the transaction charges to the account of the stock exchange – Decided against Revenue. Following Commissioner of Income-tax - 4(3) Versus Kotak Securities Ltd. [2011 (10) TMI 24 - Bombay High Court], since both the revenue and the assessee were under the bonafide belief for nearly a decade that tax was not deductible at source o .....

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..... e case of The Income Tax Commissioner V/s. Angel Capital Debit Market Ltd. [Income Tax Appeal (L) No.475 of 2011] decided on 28th July, 2011 and the decision in the case of The Commissioner of Income Tax V/s. M/s. Sykes Ray Equities (I) Ltd. [Income Tax Appeal No.3563 of 2010] decided on 14th October, 2011. For the reasons stated in the aforesaid orders, the present appeal is dismissed with no .....

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