In the result, (i) the appeal of the assessee for AY 2009-10 is partly allowed and for AY 2020-21 is treated as allowed
Bench: Shri B.R. Baskaran (Am) & Shri Amit Shukla (Jm)
8D by considering assessee’s submissions. 6.3 We heard the parties on this issue and perused the record. We notice that the assessee has made investment at the fag end of year and it is also submitted that the assessee has not earned any exempt income. Further, the own funds available with the assessee was mentioned as Rs.8.62 crores, while