https://www.taxtmi.com/caselaws?id=327877 The Revenue's appeal, challenging the tax treatment of Short Term and Long Term Capital Gain from shares as well as the disallowance under section 14A of the Income Tax Act, was dismissed. The CIT(A) upheld that the gains should be treated as capital gains rather than business income, and restricted the disallowance to 10% of the exempted income, rejecting the application of Rule 8D. The decision was pronounced on May 19, 2016. en-us Thu, 19 May 2016 00:00:00 +0530 Sat, 21 May 2016 11:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327877 The Revenue's appeal, challenging the tax treatment of Short Term and Long Term Capital Gain from shares as well as the disallowance under section 14A of the Income Tax Act, was dismissed. The CIT(A) upheld that the gains should be treated as capital gains rather than business income, and restricted the disallowance to 10% of the exempted income, rejecting the application of Rule 8D. The decision was pronounced on May 19, 2016. Case-Laws Income Tax Thu, 19 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327877