https://www.taxtmi.com/caselaws?id=181570 The ITAT partially allowed the appeal, directing the AO to restrict disallowance u/s 14A to &8377;1,000 instead of &8377;71,642. It ruled that Short Term Capital Gains should not be treated as business income, emphasizing investor intention and source of funds. The ITAT clarified the correct computation of interest under sections 234A, 234B, and 234C, setting aside the CIT(A)'s decision on the second issue and instructing the AO to assess gains as Short Term Capital Gains. en-us Fri, 19 Sep 2014 00:00:00 +0530 Wed, 20 Apr 2016 09:49:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181570 The ITAT partially allowed the appeal, directing the AO to restrict disallowance u/s 14A to &8377;1,000 instead of &8377;71,642. It ruled that Short Term Capital Gains should not be treated as business income, emphasizing investor intention and source of funds. The ITAT clarified the correct computation of interest under sections 234A, 234B, and 234C, setting aside the CIT(A)'s decision on the second issue and instructing the AO to assess gains as Short Term Capital Gains. Case-Laws Income Tax Fri, 19 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181570