https://www.taxtmi.com/caselaws?id=267099 The Tribunal accepted the appeal partly, ruling in favor of the assessee on multiple grounds. The loss in share trading was not considered speculative as the company's principal business involved trading in shares. Interest income was taxed in the year it accrued to avoid double taxation. The disallowance of interest on borrowed funds was sent back for further examination. The issue of commission paid abroad was remitted for verification. Disallowance under section 14A was not applicable to shares held as stock-in-trade. The Tribunal provided detailed reasoning and directions based on legal precedents and statutory provisions. en-us Wed, 15 Jul 2015 00:00:00 +0530 Fri, 30 Oct 2015 06:31:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267099 The Tribunal accepted the appeal partly, ruling in favor of the assessee on multiple grounds. The loss in share trading was not considered speculative as the company's principal business involved trading in shares. Interest income was taxed in the year it accrued to avoid double taxation. The disallowance of interest on borrowed funds was sent back for further examination. The issue of commission paid abroad was remitted for verification. Disallowance under section 14A was not applicable to shares held as stock-in-trade. The Tribunal provided detailed reasoning and directions based on legal precedents and statutory provisions. Case-Laws Income Tax Wed, 15 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267099