https://www.taxtmi.com/caselaws?id=338166 The Tribunal classified the profit on the sale of shares as business income, allowing the Revenue's appeal. The disallowance under section 14A for administrative expenses was upheld, with the Tribunal considering such expenses as inherent in business expenses. The Tribunal also rejected the appeal on penalty proceedings under section 271(1)(c), stating the ground was premature as the penalty had not been imposed yet, giving the assessee a chance to contest it during penalty imposition. en-us Mon, 23 Jan 2017 00:00:00 +0530 Mon, 23 Jan 2017 14:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338166 The Tribunal classified the profit on the sale of shares as business income, allowing the Revenue's appeal. The disallowance under section 14A for administrative expenses was upheld, with the Tribunal considering such expenses as inherent in business expenses. The Tribunal also rejected the appeal on penalty proceedings under section 271(1)(c), stating the ground was premature as the penalty had not been imposed yet, giving the assessee a chance to contest it during penalty imposition. Case-Laws Income Tax Mon, 23 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338166