https://www.taxtmi.com/caselaws?id=178492 The ITAT dismissed the appeal by the AO and the cross-objections by the assessee, upholding the FAA's decisions. It emphasized distinguishing between investment and trading activities, burden of proof in cash credit cases, and verifying claims related to exempt income and associated expenses. The ITAT ruled against treating net short-term capital gains as business income, deleted the addition under Section 68, confirmed treating gains from specific shares as business income, and required proportionate disallowance of expenses related to dividend income under Section 14A. en-us Wed, 04 Feb 2015 00:00:00 +0530 Sat, 06 Feb 2016 15:25:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178492 The ITAT dismissed the appeal by the AO and the cross-objections by the assessee, upholding the FAA's decisions. It emphasized distinguishing between investment and trading activities, burden of proof in cash credit cases, and verifying claims related to exempt income and associated expenses. The ITAT ruled against treating net short-term capital gains as business income, deleted the addition under Section 68, confirmed treating gains from specific shares as business income, and required proportionate disallowance of expenses related to dividend income under Section 14A. Case-Laws Income Tax Wed, 04 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178492