https://www.taxtmi.com/caselaws?id=256494 The tribunal upheld the decision of the Ld CIT(A) regarding the disallowance of expenses related to hoarding charges/compensation and trading in silver, treating them as business income. The gain from the sale of land was considered long-term capital gain, and the deduction under section 54EC was allowed. However, the disallowance of depreciation, interest on a car loan, and car expenses was upheld due to lack of supporting documentation. The tribunal dismissed the grounds related to the disallowance made under section 14A of the Act, ultimately upholding the decisions of the Ld CIT(A) on all issues raised in the case. en-us Wed, 27 Aug 2014 00:00:00 +0530 Sat, 14 Feb 2015 11:35:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256494 The tribunal upheld the decision of the Ld CIT(A) regarding the disallowance of expenses related to hoarding charges/compensation and trading in silver, treating them as business income. The gain from the sale of land was considered long-term capital gain, and the deduction under section 54EC was allowed. However, the disallowance of depreciation, interest on a car loan, and car expenses was upheld due to lack of supporting documentation. The tribunal dismissed the grounds related to the disallowance made under section 14A of the Act, ultimately upholding the decisions of the Ld CIT(A) on all issues raised in the case. Case-Laws Income Tax Wed, 27 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256494