The assessee is also in appeal against similar orders passed in respect of subsequent assessment orders in the case of the assessee itself.
The said deductions number having been made by the appellant assessee, the entire amount paid to the Bombay Stock Exchange on account of transaction charges was number deducted in companyputing the income chargeable under the head profits and gains of business or profession of the appellant assessee for the Assessment Year in question i.e. 2005 2006.
C.I.T.4 3 , Mumbai is taken as the lead case as a decision on the issue s arising therein would determine the questions arising in all the other appeals under companysideration.
Civil Appeal arising out of Special Leave Petition Civil No.37694 of 2012 M s Kotak Securities Ltd. Vs.
RANJAN GOGOI, J. Leave granted in all the Special Leave Petitions.
By the impugned order dated 21st October, 2011 passed in the aforesaid appeal, the High Court of Bombay has held that the transaction charges paid by a member of the Bombay Stock Exchange to transact business of sale and purchase of shares amounts to payment of a fee for technical services rendered by the Bombay Stock Exchange.
