https://www.taxtmi.com/caselaws?id=189703 The Appellate Tribunal ITAT DELHI ruled in favor of the assessee on all grounds. The classification of profit on the sale of shares as Long Term and Short Term Capital Gain was upheld as capital gains, not business income. The allowance of depreciation on specific assets at a higher rate was justified based on precedents, dismissing the Revenue's appeal. The issue of disallowance of expenses under Section 14A was remanded for further examination, leading to the dismissal of the Revenue's appeal and partial allowance of the assessee's cross objection for statistical purposes. en-us Thu, 28 Jan 2016 00:00:00 +0530 Tue, 17 Jan 2017 20:44:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189703 The Appellate Tribunal ITAT DELHI ruled in favor of the assessee on all grounds. The classification of profit on the sale of shares as Long Term and Short Term Capital Gain was upheld as capital gains, not business income. The allowance of depreciation on specific assets at a higher rate was justified based on precedents, dismissing the Revenue's appeal. The issue of disallowance of expenses under Section 14A was remanded for further examination, leading to the dismissal of the Revenue's appeal and partial allowance of the assessee's cross objection for statistical purposes. Case-Laws Income Tax Thu, 28 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189703