https://www.taxtmi.com/caselaws?id=244296 The Tribunal upheld the CIT(Appeals)'s decisions in a case involving the treatment of surplus from the sale of shares and securities and the deletion of an addition of Rs.3,75,95,906/- due to discrepancies in the purchase of Mutual Funds. The surplus was correctly considered as capital gains, as the assessee held Mutual Fund units as investments, not for trading. The addition was deleted as discrepancies in purchase details were reconciled by the assessee, with no errors found in explanations provided. The Tribunal dismissed the Revenue's appeal, affirming the decisions made by the CIT(Appeals) on both issues. en-us Wed, 08 Jan 2014 00:00:00 +0530 Sat, 22 Feb 2014 20:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244296 The Tribunal upheld the CIT(Appeals)'s decisions in a case involving the treatment of surplus from the sale of shares and securities and the deletion of an addition of Rs.3,75,95,906/- due to discrepancies in the purchase of Mutual Funds. The surplus was correctly considered as capital gains, as the assessee held Mutual Fund units as investments, not for trading. The addition was deleted as discrepancies in purchase details were reconciled by the assessee, with no errors found in explanations provided. The Tribunal dismissed the Revenue's appeal, affirming the decisions made by the CIT(Appeals) on both issues. Case-Laws Income Tax Wed, 08 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244296