2018 (2) TMI 1652

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....Ms. Arpita Majumdar i/b. Vaish Associates, for the Respondent ORDER P. C. This Appeal under Section 260A of the Income Tax Act, 1961 (the Act), challenges the order dated 15th January, 2015 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order dated 15th January, 2015 is in respect of Assessment Year 2009-10. 2 Revenue urges the only following question of law, ....

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.... to the Commissioner of Income Tax (Appeals) (CIT(A). However, by order dated 15th October, 2012, the CIT(A) dismissed the appeal of the Respondent. 6 On further appeal, the impugned order of the Tribunal observed that the investments made to earn exempted income were out of Assessee's own funds. Thus, no disallowance on account of interest expenditure out of total expenditure could be disa....