https://www.taxtmi.com/caselaws?id=333916 The assessee's appeals were partly allowed in the case. The Tribunal reversed the Assessing Officer's decision to use Stamp Duty value for computing long-term capital gains, directing the actual consideration be used. For short-term capital gains, the matter was remanded to the AO for proper assessment following Section 50C procedures. Disallowance under Section 14A was directed to follow previous Tribunal orders. The retrospective application of an amendment in Section 115JB was disallowed. Trade guarantee provision was allowed as business expenditure, and the addition of wealth tax in computing book profit was deleted. The revenue's appeal was dismissed, upholding the CIT(A)'s decisions. en-us Fri, 16 Sep 2016 00:00:00 +0530 Thu, 27 Oct 2016 09:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333916 The assessee's appeals were partly allowed in the case. The Tribunal reversed the Assessing Officer's decision to use Stamp Duty value for computing long-term capital gains, directing the actual consideration be used. For short-term capital gains, the matter was remanded to the AO for proper assessment following Section 50C procedures. Disallowance under Section 14A was directed to follow previous Tribunal orders. The retrospective application of an amendment in Section 115JB was disallowed. Trade guarantee provision was allowed as business expenditure, and the addition of wealth tax in computing book profit was deleted. The revenue's appeal was dismissed, upholding the CIT(A)'s decisions. Case-Laws Income Tax Fri, 16 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333916