https://www.taxtmi.com/caselaws?id=172448 The Tribunal partly allowed the appeal by the assessee, directing the Assessing Officer to tax the profit from the sale of mutual funds as capital gains, not business income, based on the nature of the investments. Regarding the disallowance of expenses under section 14A, the Tribunal set aside the matter for the Assessing Officer to determine the disallowance in accordance with a Bombay High Court decision, stating Rule 8D should not be applied retrospectively. en-us Tue, 22 Feb 2011 00:00:00 +0530 Fri, 21 Aug 2015 16:37:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=172448 The Tribunal partly allowed the appeal by the assessee, directing the Assessing Officer to tax the profit from the sale of mutual funds as capital gains, not business income, based on the nature of the investments. Regarding the disallowance of expenses under section 14A, the Tribunal set aside the matter for the Assessing Officer to determine the disallowance in accordance with a Bombay High Court decision, stating Rule 8D should not be applied retrospectively. Case-Laws Income Tax Tue, 22 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=172448