2020 (7) TMI 222

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....anding Counsel For respondent : Mr.Sivaraman JUDGMENT (Delivered by DR.VINEET KOTHARI, J.) The Court was held by Video Conference, as per the Resolution of the Full Court dated 3 July 2020, by Judges at the respective residence offices and the counsel, staff of the Court appearing from their respective residences. 2. Mr.T.Ravikumar, learned Senior Standing Counsel appearing for the ....

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....essee has made investments from interest bearing funds. During the AY under consideration, the assessee has made investment of ~2.36 Crores in the rights issue of M/s.Saregama India P. Ltd. The assessee is having investment portfolio of Rs. 50.86Crores and these investments have been made over a period of time. The assessee must have been spending some amount in managing the portfolio. The CIT(App....

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....bove, do not give rise to any substantial question of law in the present appeal under Section 260A of the Act. 6. The extent of expenditure to be disallowed under Section 14A of the Act would naturally depend upon the income earned by the Assessee and spending that income and extent of exemption they have drawn. Since the Tribunal has discussed the relevant facts in paragraph 6 quoted above, we....