TaxTMI 
TaxTMI 
2014 (7) TMI 1059
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..... 2. The appeal raises two issues, per its two factual grounds, which we shall take up in seriatim; ground no. 3 being not pressed before us, while ground no. 4 is general in nature, not warranting any adjudication. 3. Vide the first ground, the assessee agitates the disallowance u/s.14A of the Act, effected in the sum of Rs. 4,36,404/-. The same, it was argued before us, is not maintainable in-as-much as the assessee had earned a lower amount of tax-exempt income, so that a direction to restrict the same thereto was prayed for. 4. We have heard the parties, and perused the material on record. The assessee's case is wholly misconceived. The income not forming part of the total income, viz. dividend (at Rs. 19.95 lacs); long term capital ....
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....hority. 6. Before us, the assessee's case was that the impugned order having been passed by the ld. CIT(A) on this ground following the decision by the first appellate authority in the assessee's own case for a preceding year (A.Y. 2006-07), appeal by the assessee against which stands since disposed of by the tribunal, restoring the matter back to the file of the A.O. for fresh adjudication, a like direction in the instant case be made. The ld. DR relied on the assessment order, claiming no infirmity to have been pointed out therein. 7.1 We have heard the parties, and perused the material on record, including the order by the tribunal in the assessee's case for A.Y. 2006-07 (in ITA Nos. 2741 & 3856/Mum(B)/2009 dated 28.03.2012/PB pgs.1-6)....
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....the case back to the Assessing Officer to pass a fresh order after granting adequate opportunity of hearing to assessee.' [emphasis, ours] Vide para 7, the tribunal enlists the primary difference with regard to the intention or the motivation that attends the case of an investor vis-à-vis a trader. The holding period of the shares was, in its view, an important ingredient in determining the said motive or intention, even as the matter has to be decided in the conspectus of the facts and circumstances of each case. Finding the A.O. as well as the first appellate authority to have missed the consideration thereof, i.e., the holding period, it restored the matter back to the file of the A.O. to pass a fresh order after granting adequa....
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....due consideration by the Revenue for the earlier assessment year, i.e., A.Y. 2006-07, leading to a restoration for its consideration. Accordingly, in our view, the reason/s that informed the tribunal's final decision in the assessee's case for A.Y. 2006- 07 would not obtain on facts for the current year, for us to accede to the assessee's prayer for a like restoration, as was for that year, back to the file of the assessing authority. With regard to the law, as afore-noted, we find the observations by the tribunal in the assessee's case for A.Y. 2006-07 vide para 7 of its order to be consistent with the discussion in the matter by the assessing authority vide the assessment order for the current year. Further on, it is not necessary, even a....