https://www.taxtmi.com/caselaws?id=170702 The tribunal allowed the appeal of the assessee, ruling that the profit on the sale of investments in the general insurance business was not taxable for the assessment year 2004-05, post the deletion of Rule 5(b) under the I.T. Act. The tribunal held that even after the deletion of Rule 5(b), the profit on the sale of investments could not be taxed as income from other activities, contrary to the decisions of the AO and CIT(A). The tribunal's decision was supported by previous rulings and set aside the order of the CIT(A). en-us Fri, 17 Sep 2010 00:00:00 +0530 Sat, 09 Sep 2023 13:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170702 The tribunal allowed the appeal of the assessee, ruling that the profit on the sale of investments in the general insurance business was not taxable for the assessment year 2004-05, post the deletion of Rule 5(b) under the I.T. Act. The tribunal held that even after the deletion of Rule 5(b), the profit on the sale of investments could not be taxed as income from other activities, contrary to the decisions of the AO and CIT(A). The tribunal's decision was supported by previous rulings and set aside the order of the CIT(A). Case-Laws Income Tax Fri, 17 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170702