https://www.taxtmi.com/caselaws?id=336357 The Tribunal ruled in favor of the assessee in the case concerning the assessment of short term capital gain as business income and disallowance under section 14A of the Act. The Tribunal determined that the assessee acted as an investor based on various factors, directing the AO to assess gains as capital gains. Regarding disallowance under Rule 8D, the Tribunal held that since the assessee claimed no expenses, no disallowance under section 14A was justified, instructing the AO to delete the disallowance. The appeal was allowed on both issues, with the Tribunal's decision issued on 20.10.2016. en-us Thu, 20 Oct 2016 00:00:00 +0530 Tue, 20 Dec 2016 10:11:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336357 The Tribunal ruled in favor of the assessee in the case concerning the assessment of short term capital gain as business income and disallowance under section 14A of the Act. The Tribunal determined that the assessee acted as an investor based on various factors, directing the AO to assess gains as capital gains. Regarding disallowance under Rule 8D, the Tribunal held that since the assessee claimed no expenses, no disallowance under section 14A was justified, instructing the AO to delete the disallowance. The appeal was allowed on both issues, with the Tribunal's decision issued on 20.10.2016. Case-Laws Income Tax Thu, 20 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336357