2015 (5) TMI 1017

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....N.R.S. GANESAN, JUDICIAL MEMBER: This appeal of the Revenue is directed against the order of the Commissioner of Income Tax (Appeals)-I, Coimbatore, dated 18.07.2014. 2. No one appeared for the assessee even though the appeal was adjourned to 21.04.2015 at the request of the assessee. Therefore, we heard the Ld. Departmental Representative and proceed to dispose of the appeal on merit. 3.....

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....me asset. 4. We have heard the submission made by the Ld. D.R. and perused the material available on record. It is not in dispute that the assessee invested in the capital asset and claimed the same as application of income under Section 11 of the Act. Now the question arises for consideration is when the claim of investment in the capital asset was allowed as application of income, whether the....