https://www.taxtmi.com/caselaws?id=337966 The Tribunal ruled in favor of the assessee, directing the AO to treat the gain on the sale of shares as short-term capital gain rather than business income. Additionally, the Tribunal instructed the AO to allow the weighted deduction for Research and Development expenses under section 35(2AB) of the Income Tax Act. The decision highlighted the significance of evaluating various factors and legal precedents to determine income nature and eligibility for deductions. en-us Wed, 18 Jan 2017 00:00:00 +0530 Sat, 21 Jan 2017 07:33:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337966 The Tribunal ruled in favor of the assessee, directing the AO to treat the gain on the sale of shares as short-term capital gain rather than business income. Additionally, the Tribunal instructed the AO to allow the weighted deduction for Research and Development expenses under section 35(2AB) of the Income Tax Act. The decision highlighted the significance of evaluating various factors and legal precedents to determine income nature and eligibility for deductions. Case-Laws Income Tax Wed, 18 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337966