https://www.taxtmi.com/caselaws?id=247431 The Tribunal allowed the appellant's challenge against the disallowance under Section 14A of the Income Tax Act, following the decision of the Jurisdictional High Court and directing reassessment. Additionally, the Tribunal ruled in favor of the appellant regarding the assessment of short-term capital gains as business income, emphasizing the intention to hold shares as investments. The Tribunal directed the Assessing Officer to assess the gains under the 'capital gains' head. The alternative ground for securities transaction tax was rejected. The Tribunal partly allowed the assessee's appeals for the relevant assessment years. en-us Fri, 02 May 2014 00:00:00 +0530 Thu, 19 Mar 2015 15:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247431 The Tribunal allowed the appellant's challenge against the disallowance under Section 14A of the Income Tax Act, following the decision of the Jurisdictional High Court and directing reassessment. Additionally, the Tribunal ruled in favor of the appellant regarding the assessment of short-term capital gains as business income, emphasizing the intention to hold shares as investments. The Tribunal directed the Assessing Officer to assess the gains under the 'capital gains' head. The alternative ground for securities transaction tax was rejected. The Tribunal partly allowed the assessee's appeals for the relevant assessment years. Case-Laws Income Tax Fri, 02 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247431