https://www.taxtmi.com/caselaws?id=259351 The High Court upheld the ITAT's decision that income was short term capital gain, not business income, for AY 2007-08. The Court found the conversion of stock inconclusive in determining the nature of the transaction. The appeal on this issue was dismissed. Regarding disallowance under Section 14A, the matter was remanded for re-adjudication based on precedent. The High Court declined to interfere with this decision, leading to the dismissal of the appeal on the Section 14A issue. en-us Wed, 15 Apr 2015 00:00:00 +0530 Fri, 08 May 2015 08:14:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259351 The High Court upheld the ITAT's decision that income was short term capital gain, not business income, for AY 2007-08. The Court found the conversion of stock inconclusive in determining the nature of the transaction. The appeal on this issue was dismissed. Regarding disallowance under Section 14A, the matter was remanded for re-adjudication based on precedent. The High Court declined to interfere with this decision, leading to the dismissal of the appeal on the Section 14A issue. Case-Laws Income Tax Wed, 15 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259351