PRL COMMISSOER OF INCOME TAX vs. SRISURAM VENKATESWARA REDDY

In the result, appeal filed by the revenue fails and is

Bench: RAMESH RANGANATHAN,KONGARA VIJAYA LAKSHMI

1. Whether on the facts and in the circumstances of the case, the Tribunal is right in law in setting aside disallowance made under the head investment portfolio by following earlier decisions which has not reached finality even when the assessing authority rightly made disallowance by holding that irrespective of RBI guidelines were applicable to the assessee for the purposes