https://www.taxtmi.com/caselaws?id=338259 The Tribunal upheld the CIT(A)'s decision, classifying income from the sale of shares as 'capital gains' instead of 'business income'. The Revenue's appeal was dismissed. Regarding the disallowance under Section 14A, the Tribunal affirmed the deletion of the disallowance, noting that the AO failed to establish expenses related to exempt income in the P&L account. The Revenue's appeal on this issue was also dismissed. en-us Wed, 25 Jan 2017 00:00:00 +0530 Fri, 27 Jan 2017 12:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338259 The Tribunal upheld the CIT(A)'s decision, classifying income from the sale of shares as 'capital gains' instead of 'business income'. The Revenue's appeal was dismissed. Regarding the disallowance under Section 14A, the Tribunal affirmed the deletion of the disallowance, noting that the AO failed to establish expenses related to exempt income in the P&L account. The Revenue's appeal on this issue was also dismissed. Case-Laws Income Tax Wed, 25 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338259