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Qualifying remand to be avoided when questions of law raised by both revenue as well as assessee

September 11, 2020[2020] 119 taxmann.com 126 (Madras)
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INCOME TAX : Where Tribunal while remitting back issue of section 14A disallowance had directed Assessing Officer to consider assessee's own fund, i.e., capital and reserves as available for investment, which yields exempted income and thereafter to apply formula in rule 8D and also exclude investments in subsidiaries, Tribunal, having chosen to remand matter to Assessing Officer for a fresh consideration, could have avoided qualifying remand especially when questions of law are being raised by both revenue as well as assessee and, thus, matter be remanded for a fresh consideration to Assessing Officer

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