Bombay High Court
Pr. Commissioner Of Income Tax-7 vs Goldman Sachs (I) Securities P. Ltd on 5 August, 2019
Bench: Akil Kureshi, S.J. Kathawalla
42. OS ITXA 967-17.doc
R.M. AMBERKAR
(Private Secretary)
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
O.O.C.J.
INCOME TAX APPEAL NO. 967 OF 2017
Pr. Commissioner of Income Tax -7 .. Appellant
Versus
Goldman Sachs (I) Securities P Ltd .. Respondent
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Mr. Suresh Kumar for the Appellant
Mr. M. Agarwal i/by Mint & Confrere for the Respondent
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CORAM : AKIL KURESHI &
S.J. KATHAWALLA, JJ.
DATE : AUGUST 5, 2019.
P.C.:
1. Heard.
2. The appeal is admitted for consideration of following substantial question of law:-
"Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in holding that the discount on issue of ESOP is allowable as deduction in computing the income under the head profits and gains of the business?"
3. We notice that the Revenue has suggested one more question which reads as under:-
"Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in holding that the penalty was on account of irregularities committed by the assessee's clients without 1 of 2 ::: Uploaded on - 07/08/2019 ::: Downloaded on - 07/08/2019 20:41:03 :::
42. OS ITXA 967-17.doc appreciating the fact that non-compliance to clearing house trades and client code modification are defaults attributable to the assessee company majorly and not to its clients?"
Such a question came up for consideration before this Court in Income Tax Appeal No. 30 of 2017 concerning this very assessee. By an order dated 10.6.2019, such question was not entertained. Without recording separate reasons, in present appeal also, this question is not entertained.
4. The Registry is directed to communicate copy of this order to the Tribunal. This would enable the Tribunal to keep papers and the proceedings relating to the present appeal available, to be produced when sought for by the Court.
5. Learned counsel for the respondent waives service. [ S.J. KATHAWALLA, J. ] [ AKIL KURESHI, J ] 2 of 2 ::: Uploaded on - 07/08/2019 ::: Downloaded on - 07/08/2019 20:41:03 :::