https://www.taxtmi.com/caselaws?id=260970 The ITAT affirmed that the period of pledge of shares should be considered as the holding period for determining capital gains, as ownership remained with the assessee during the pledge. The ITAT upheld the reasonable interest rate paid to the Karta of the HUF, dismissing the Revenue's challenge. Disallowance of interest paid to the Karta under section 40A(2)(b) was found reasonable. The ITAT dismissed the claim under section 10(36) as it did not arise from the CIT(A)'s order. Disallowance under Rule 8D for exempt income was deleted, following a prospective application of the rule. The ITAT partly allowed the Cross Objection and dismissed the Revenue's appeal. en-us Mon, 13 Apr 2015 00:00:00 +0530 Mon, 29 Jun 2015 06:30:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260970 The ITAT affirmed that the period of pledge of shares should be considered as the holding period for determining capital gains, as ownership remained with the assessee during the pledge. The ITAT upheld the reasonable interest rate paid to the Karta of the HUF, dismissing the Revenue's challenge. Disallowance of interest paid to the Karta under section 40A(2)(b) was found reasonable. The ITAT dismissed the claim under section 10(36) as it did not arise from the CIT(A)'s order. Disallowance under Rule 8D for exempt income was deleted, following a prospective application of the rule. The ITAT partly allowed the Cross Objection and dismissed the Revenue's appeal. Case-Laws Income Tax Mon, 13 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260970