https://www.taxtmi.com/caselaws?id=189234 The Tribunal upheld the CIT(A)'s decision regarding the invocation of Explanation to Section 73, treating the profit from business as business profit, not speculation profit. It also confirmed the allowance of expenses under Sections 35D and 14A, rejected the reopening of assessment under Section 147, and upheld the deletion of disallowance for premium on futures and options. The Tribunal further held that the revision under Section 263 was time-barred and allowed the expenditures in question under Section 43B, ultimately dismissing the revenue's appeals and partially allowing the assessee's appeals. en-us Mon, 20 Jun 2011 00:00:00 +0530 Mon, 02 Jan 2017 16:48:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189234 The Tribunal upheld the CIT(A)'s decision regarding the invocation of Explanation to Section 73, treating the profit from business as business profit, not speculation profit. It also confirmed the allowance of expenses under Sections 35D and 14A, rejected the reopening of assessment under Section 147, and upheld the deletion of disallowance for premium on futures and options. The Tribunal further held that the revision under Section 263 was time-barred and allowed the expenditures in question under Section 43B, ultimately dismissing the revenue's appeals and partially allowing the assessee's appeals. Case-Laws Income Tax Mon, 20 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189234