https://www.taxtmi.com/caselaws?id=240056 The Tribunal ruled in favor of the assessee in various aspects, allowing conversion of shares from stock-in-trade to investments as a capital loss, treating pre-operative expenses as revenue expenses for healthcare division expansion, considering non-compete fees as revenue expenditure, and granting higher depreciation on nursing home building. The Tribunal restricted disallowance under Section 14A, rejected treating loss on sale of shares as speculative, and deemed non-compete fees non-taxable as capital gains. Additionally, the Tribunal overturned the disallowance of legal and professional expenses, emphasizing the genuineness of expenses and the need for a proximate nexus for disallowances. en-us Fri, 08 Mar 2013 00:00:00 +0530 Mon, 21 Mar 2016 15:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240056 The Tribunal ruled in favor of the assessee in various aspects, allowing conversion of shares from stock-in-trade to investments as a capital loss, treating pre-operative expenses as revenue expenses for healthcare division expansion, considering non-compete fees as revenue expenditure, and granting higher depreciation on nursing home building. The Tribunal restricted disallowance under Section 14A, rejected treating loss on sale of shares as speculative, and deemed non-compete fees non-taxable as capital gains. Additionally, the Tribunal overturned the disallowance of legal and professional expenses, emphasizing the genuineness of expenses and the need for a proximate nexus for disallowances. Case-Laws Income Tax Fri, 08 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240056