2008 (1) TMI 912

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....allenging the findings of the tribunals so far as it relates to non-consideration of proviso to Sec. 14A of the Income Tax Act. 2. The assessees herein were two appellants before the tribunal. The tribunal after hearing the parties allowed the appeal in part and remanded the matter to the assessing officer to consider the case of the assessee so far as it relates to computation of expenditure. Ho....

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....ommissioner is valid and within the powers under Sec. 263 of the Act? 2. Whether on the facts and circumstances of the case, is the tribunal corrected in law in holding that the interest expenditure of a partner of firm in their personal hands need to be disallowed as the share of income from the firm is exempt from income tax? 3. Whether the tribunal is justified in law in equating the agricu....

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....ly if the following question of law is considered, that would satisfy the facts of the case: "Whether on the facts and circumstances of the case, tribunal was justified in not granting relief to the assesses in holding that the cases of Indian Bank and Rajendra Prasad Moody are not applicable after introduction of Sec. 14A of the Income Tax Act without considering the proviso to the said section....