https://www.taxtmi.com/caselaws?id=218704 The High Court set aside the Tribunal's decision and remanded the case for further consideration. The Court emphasized the importance of properly assessing whether the investments in mutual funds were part of the business or an adventure in the nature of trade. It highlighted the need for a thorough investigation before disallowing claims based on tax avoidance. The matter was sent back to the Tribunal for a fresh determination without any costs incurred by either party. en-us Mon, 08 Oct 2012 00:00:00 +0530 Fri, 28 Jun 2013 11:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218704 The High Court set aside the Tribunal's decision and remanded the case for further consideration. The Court emphasized the importance of properly assessing whether the investments in mutual funds were part of the business or an adventure in the nature of trade. It highlighted the need for a thorough investigation before disallowing claims based on tax avoidance. The matter was sent back to the Tribunal for a fresh determination without any costs incurred by either party. Case-Laws Income Tax Mon, 08 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218704