https://www.taxtmi.com/caselaws?id=182478 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on the interpretation of Explanation to section 73, determination of principal business, treatment of loss in trading of shares, and disallowance under section 14A of the IT Act. The Tribunal found the AO's contentions unsustainable, emphasizing the company's principal business of granting loans and advances. It also affirmed the CIT(A)'s reasoning regarding the normal business loss treatment of share trading losses and the estimation of disallowance under section 14A. en-us Fri, 09 Jan 2015 00:00:00 +0530 Wed, 11 May 2016 23:00:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182478 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on the interpretation of Explanation to section 73, determination of principal business, treatment of loss in trading of shares, and disallowance under section 14A of the IT Act. The Tribunal found the AO's contentions unsustainable, emphasizing the company's principal business of granting loans and advances. It also affirmed the CIT(A)'s reasoning regarding the normal business loss treatment of share trading losses and the estimation of disallowance under section 14A. Case-Laws Income Tax Fri, 09 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182478