2017 (4) TMI 1533

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....Respondent : Shri M.K. Biju, Jt.CIT(DR)(ITAT-3), Bengaluru ORDER Per Sunil Kumar Yadav, Judicial Member This appeal is preferred by the assessee against the order of CIT(Appeals) inter alia on the following grounds:- "1. The order of the Commissioner of Income Tax (Appeals)-2 dated 15.06.2016 for the Assessment Year 2013-14 is contrary to law, facts, and in the circumstances of t....

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....ssessee which could yield tax free income, then the disallowance of interest expense u/s 14A is not justified. 4. The CIT(A) failed to appreciate the fact that the investment was made by the Appellant in its subsidiaries and was on account of business strategy and not to earn exempted income. Hence, to carry out the same line of business the investment was made in the subsidiary. Accordin....