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2020 (9) TMI 91 - MADRAS HIGH COURTDisallowance u/s 14A read with Rule 8D - Whether the Tribunal was right and justified in remitting back the issue of disallowance under Section 14A to Assessing Officer by directing him to exclude own funds in the form of reserve and surplus when the assessee was maintaining mixed bag of funds ? - HELD THAT:- As perused the impugned order passed by the Tribunal and more particularly paragraph 11 Tribunal, having chosen to remand the matter to the Assessing Officer for a fresh consideration, could have avoided qualifying the remand especially when the questions of law are being raised by both the Revenue as well as the assessee. We are inclined to interfere with that portion of the order passed by the Tribunal and remand the matter for a fresh consideration to the Assessing Officer to enable him/her to consider the entire matter afresh without, in any manner, curtailing exercise of his/her power as an Assessing Officer. Tribunal did not give independent reasons as to why, in its opinion, the direction issued in the case of Beach Miners Co. Pvt. Ltd. [2015 (8) TMI 1031 - ITAT CHENNAI]should also apply to the case of the assessee. Tax case appeal is allowed, the findings/observations made by the Tribunal in paragraph 11 of the impugned order are set aside and the order of remand is confirmed.
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