9911796707
TMI Blog2017 (8) TMI 1620X X X X Extracts X X X X X X X X Extracts X X X X ..... T ORDER This appeal by the assessee is directed against the order passed by the Ld. Commissioner of Income Tax (Appeals)-2, Chennai dated 31.01.2017 in ITA No.192/CIT(A)-2/2015-16 for the assessment year 2013-14 passed U/s.250(6) r.w.s.143(3) of the Act. 2. The assessee has raised several grounds in its appeal, however the crux of the issue is that the assessee is aggrieved by the order of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... therefore the assessee had not incurred any expenditure towards such investments. Hence, it was pleaded that the provision of Section 14A will not be applicable in the case of the assessee. The Ld.DR on the other hand relied on the orders of the Ld.Revenue Authorities. 5. I have heard the rival submissions and carefully perused the materials on record. If the assessee has invested in its sister ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed out to us that the assessee had made the investments in its sister concerns for strategic reasons out of its own interest free funds, I find it appropriate to remit the matter back to the file of Ld.AO for fresh consideration and to pass appropriate order in accordance with law and merit and based on our above mentioned observations. 6. In the result appeal of the assessee is allowed for stati ..... X X X X Extracts X X X X X X X X Extracts X X X X
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