https://www.taxtmi.com/caselaws?id=329926 The Tribunal partly allowed the appeal of the assessee, finding no errors in the original assessment regarding the disallowance under section 14A and the discrepancies in profit calculations on the sale of flats and shares. The Tribunal upheld the assessee's arguments, stating that Rule 8D was not applicable for the relevant assessment year and that the profit on the sale of shares was correctly treated as a liability in the balance sheet following Accounting Standard-5. The Tribunal concluded that the original assessment was not erroneous based on the explanations provided by the assessee and accepted by the Assessing Officer. en-us Fri, 08 Jul 2016 00:00:00 +0530 Wed, 13 Jul 2016 12:59:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329926 The Tribunal partly allowed the appeal of the assessee, finding no errors in the original assessment regarding the disallowance under section 14A and the discrepancies in profit calculations on the sale of flats and shares. The Tribunal upheld the assessee's arguments, stating that Rule 8D was not applicable for the relevant assessment year and that the profit on the sale of shares was correctly treated as a liability in the balance sheet following Accounting Standard-5. The Tribunal concluded that the original assessment was not erroneous based on the explanations provided by the assessee and accepted by the Assessing Officer. Case-Laws Income Tax Fri, 08 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329926