https://www.taxtmi.com/caselaws?id=235841 The Tribunal upheld the ld. CIT(A)'s decision that the income from the sale of investments should be treated as capital gain, not business income, for assessment years 2007-08 and 2008-09. Additionally, the Tribunal supported the ld. CIT(A)'s restriction of disallowance under section 14A of the Income Tax Act to the extent of expenses claimed, dismissing the Revenue's appeals for both issues. The judgment emphasized factual analysis and past consistency in determining income nature and disallowances under the Act. en-us Wed, 29 May 2013 00:00:00 +0530 Tue, 06 Aug 2013 17:43:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235841 The Tribunal upheld the ld. CIT(A)'s decision that the income from the sale of investments should be treated as capital gain, not business income, for assessment years 2007-08 and 2008-09. Additionally, the Tribunal supported the ld. CIT(A)'s restriction of disallowance under section 14A of the Income Tax Act to the extent of expenses claimed, dismissing the Revenue's appeals for both issues. The judgment emphasized factual analysis and past consistency in determining income nature and disallowances under the Act. Case-Laws Income Tax Wed, 29 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235841