https://www.taxtmi.com/caselaws?id=260170 The Tribunal ruled that gains from the sale of shares should be classified as capital gains, not business income, emphasizing factors beyond just the holding period. It upheld the restricted disallowance of expenses under Section 14A, considering the nature of the assessee's main activity as share investment. However, the Tribunal directed the Assessing Officer to address the treatment of a long-term capital loss not previously considered. The Tribunal partially allowed the appeal, dismissing certain claims and appeals while granting relief on the classification of gains and expenditure disallowance. en-us Fri, 29 May 2015 00:00:00 +0530 Thu, 04 Jun 2015 08:21:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260170 The Tribunal ruled that gains from the sale of shares should be classified as capital gains, not business income, emphasizing factors beyond just the holding period. It upheld the restricted disallowance of expenses under Section 14A, considering the nature of the assessee's main activity as share investment. However, the Tribunal directed the Assessing Officer to address the treatment of a long-term capital loss not previously considered. The Tribunal partially allowed the appeal, dismissing certain claims and appeals while granting relief on the classification of gains and expenditure disallowance. Case-Laws Income Tax Fri, 29 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260170