https://www.taxtmi.com/caselaws?id=326798 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on both issues. It ruled that the assessee's business activities in shares and securities should be treated as a single composite business, allowing the set-off of share trading losses against derivative profits. Additionally, the Tribunal held that the AO must record dissatisfaction with the assessee's claim before invoking Rule 8D for disallowance under Section 14A. The assessee's Cross Objection was dismissed as infructuous since it was supportive of the CIT(A)'s order. en-us Fri, 18 Mar 2016 00:00:00 +0530 Mon, 25 Apr 2016 12:00:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326798 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on both issues. It ruled that the assessee's business activities in shares and securities should be treated as a single composite business, allowing the set-off of share trading losses against derivative profits. Additionally, the Tribunal held that the AO must record dissatisfaction with the assessee's claim before invoking Rule 8D for disallowance under Section 14A. The assessee's Cross Objection was dismissed as infructuous since it was supportive of the CIT(A)'s order. Case-Laws Income Tax Fri, 18 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326798