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TMI Blog2015 (3) TMI 712X X X X Extracts X X X X X X X X Extracts X X X X ..... e Tax Appellate Tribunal, Ahmedabad (for short "the Tribunal") in ITA Nos. 1641 and 1642/Ahd/2001, whereby the appeals preferred by the assessees were allowed by the Tribunal. 3. The facts as well as the question of law of both these appeals are similar, therefore, we discuss the facts of Tax Appeal No.832 of 2007 for our convenience. 4. The facts, in brief, are that the assessee had filed its return for the Assessment Year 1996-97 on 30.10.1996, declared total income of Rs. 20,35,000/-. Thereafter, the return was processed under Section 143(1)(a) of the Income Tax Act. The Assessing Officer, after scrutiny, passed order under Section 143(3) of the Income Tax Act and the amount of registration fee paid to SEBI was disallowed as capital ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sion of the Tribunal in the case of Market Creator Ltd. Baroda v. ACIT in ITA No.5029/Ahd/1996. Therefore, he urged that this Court may allow these appeals and answer the question raised in these appeals in favour of the revenue and against the assessee. 8. Learned advocate for th respondentassssee has supported the order of the Tribunal and contended that the question raised in these appeals is already concluded by the Karnataka High Court in the case of Commissioner of Income- Tax and Another v. Vysya Bank Ltd., reported in [2009] 313 ITR. Therefore, learned advocate for the respondent-assessee has urged that in view of the above decision the present appeals deserve to be dismissed. 9. We have heard learned advocate for both the parties ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s with SEBI as revenue expenditure, then there is no reason why a different treatment should be meted out to the present assessee. In light of the foregoing discussion, we are of the opinion that there is no substance in this appeal. 10. Since the issue involved in these appeals is already concluded by the above decision, no elaborate reasons are required to be assigned by this Court. In that view of the matter, we are of the considered opinion that the present appeals deserve to be dismissed and the same is accordingly dismissed. The question of law raised in these appeals is answered in favour of the assessee and against the revenue. Accordingly, we hold that the Tribunal was right in allowing the fee paid to the Securities & Exchange Bo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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