https://www.taxtmi.com/caselaws?id=261952 The Tribunal classified gains from share transactions as "business income" due to organized activities. Disgorged amounts to SEBI were excluded from taxable income. Disgorgement amounts were not deductible as business loss as they were already excluded from taxable income. Settlement charges were disallowed as business expenditure due to SEBI regulation violations. Revenue's appeal was dismissed as the investment was genuine, not linked to fraudulent activities. ITA No.573/Ahd/2010 and ITA No.574/Ahd/2010 partly allowed; ITA No.554/Ahd/2010, ITA No.555/Ahd/2010, and ITA No.786/Ahd/2010 dismissed. en-us Fri, 24 Jul 2015 00:00:00 +0530 Mon, 09 Nov 2015 11:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261952 The Tribunal classified gains from share transactions as "business income" due to organized activities. Disgorged amounts to SEBI were excluded from taxable income. Disgorgement amounts were not deductible as business loss as they were already excluded from taxable income. Settlement charges were disallowed as business expenditure due to SEBI regulation violations. Revenue's appeal was dismissed as the investment was genuine, not linked to fraudulent activities. ITA No.573/Ahd/2010 and ITA No.574/Ahd/2010 partly allowed; ITA No.554/Ahd/2010, ITA No.555/Ahd/2010, and ITA No.786/Ahd/2010 dismissed. Case-Laws Income Tax Fri, 24 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261952