2020 (3) TMI 936

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....i AR.V. Sreenivasan, JCIT Respondent by : Sh. R. Vijayaraghavan, Advocate ORDER PER N.R.S. GANESAN, JUDICIAL MEMBER: This appeal of the Revenue is directed against the order of the Commissioner of Income Tax (Appeals) -3, Chennai, dated 30.08.2017 and pertains to assessment year 2013-14. The assessee filed the crossobjection against the very same order of the CIT(Appeals). Therefore, w....

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....ssing Officer to exclude the investments made in subsidiary companies. 3. On the contrary, Sh. R. Vijayaraghavan, the Ld.counsel for the assessee, submitted that the assessee had sufficient funds for making investments. When the assessee has invested its own funds, according to the Ld. counsel, there cannot be any disallowance. On a query from the Bench when the investments were made? Whether t....

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....shares, then there cannot be any disallowance towards expenditure. However, the details of the date of investments in the shares and availability of funds on the date of investments are not available on record. Therefore, as submitted by the Ld.counsel for the assessee, the matter needs to be re-examined by the Assessing Officer. Accordingly, orders of both the authorities below are set aside and ....