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TMI Blog2020 (12) TMI 52X X X X Extracts X X X X X X X X Extracts X X X X ..... .V. ARAVIND, ADV.) RESPONDENT (BY SRI T. SURYANARAYANA, ADV.) JUDGMENT ALOK ARADHE J., This appeal under Section 260-A of the Income Tax Act, 1961 (hereinafter referred to as 'the Act', for short) has been preferred by the revenue. The subject matter of the appeal pertains to the Assessment Year 2006-07. The appeal was admitted by a Bench of this Court vide order dated 02.11.2017 on the follow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. Whether on the facts and in the circumstances on the case, the Tribunal is right in laws setting aside the disallowance of Rs. 14,62,586 made under section 14A by the assessing authority even when no expenses under section 14A of the Act could be attributed for maintenance/monitoring the investment in mutual funds and the without proper appreciation of Notification in S.O.547(E) dated 24/3/2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Tribunal by order dated 09.12.2015 has dismissed the appeal preferred by the revenue and has partly allowed the appeal preferred by the assessee. In the aforesaid factual background, this appeal has been filed. 3. When the matter was taken up today, learned counsel for the assessee submitted that the first substantial question of law, which has been framed by this Court has already been answer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , the second substantial question of law framed by a bench of this Court is also answered against the revenue and in favour of the assessee. 5. The third substantial question of law pertains to disallowance of Rs. 14,62,586/-, which was claimed by the assessee under Section 14A of the Act. The Tribunal on the basis of meticulous appreciation of evidence on record has recorded a finding in paragra ..... X X X X Extracts X X X X X X X X Extracts X X X X
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