https://www.taxtmi.com/caselaws?id=239439 The Tribunal ruled that the sale of a plot at CBD Belapur by the assessee company should be treated as giving rise to capital gains, not business income. The disallowance of expenditure under section 14A was upheld, rejecting the retrospective application of Rule 8D. The levy of interest under sections 234B and 234C was deemed consequential, and the appeal was partly allowed with directions to compute income from the sale under capital gains. en-us Fri, 26 Apr 2013 00:00:00 +0530 Thu, 14 Nov 2013 06:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239439 The Tribunal ruled that the sale of a plot at CBD Belapur by the assessee company should be treated as giving rise to capital gains, not business income. The disallowance of expenditure under section 14A was upheld, rejecting the retrospective application of Rule 8D. The levy of interest under sections 234B and 234C was deemed consequential, and the appeal was partly allowed with directions to compute income from the sale under capital gains. Case-Laws Income Tax Fri, 26 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239439