https://www.taxtmi.com/caselaws?id=272275 The Tribunal ruled in favor of the assessee regarding the classification of income from share transactions, holding that the income should be treated as short-term and long-term capital gains based on the holding period, emphasizing the intention at the time of purchase and the consistent treatment of the assessee as an investor in previous and subsequent years. The Tribunal also limited the disallowance under section 14A to 5% of the tax-exempt income for the relevant year and allowed the loss from the forfeiture of a deposit as a business loss, affirming the CIT(A)'s decision. Uniformity was maintained in judgments across different assessment years and assessees. en-us Fri, 22 Jan 2016 00:00:00 +0530 Thu, 03 Mar 2016 11:14:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272275 The Tribunal ruled in favor of the assessee regarding the classification of income from share transactions, holding that the income should be treated as short-term and long-term capital gains based on the holding period, emphasizing the intention at the time of purchase and the consistent treatment of the assessee as an investor in previous and subsequent years. The Tribunal also limited the disallowance under section 14A to 5% of the tax-exempt income for the relevant year and allowed the loss from the forfeiture of a deposit as a business loss, affirming the CIT(A)'s decision. Uniformity was maintained in judgments across different assessment years and assessees. Case-Laws Income Tax Fri, 22 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272275