https://www.taxtmi.com/caselaws?id=338893 The Tribunal upheld the disallowance under Section 14A of the Income Tax Act, 1961, while reversing the treatment of short-term capital gains as business income for shares held for less than 30 days. The Tribunal found the disallowance calculation appropriate under Rule 8D and deemed the AO's satisfaction implicit. However, it ruled that the revenue's treatment based on holding period for short-term gains was unjustified, allowing the assessee's appeal on this issue. The judgment was delivered on 06/02/2017. en-us Mon, 06 Feb 2017 00:00:00 +0530 Tue, 14 Feb 2017 08:48:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338893 The Tribunal upheld the disallowance under Section 14A of the Income Tax Act, 1961, while reversing the treatment of short-term capital gains as business income for shares held for less than 30 days. The Tribunal found the disallowance calculation appropriate under Rule 8D and deemed the AO's satisfaction implicit. However, it ruled that the revenue's treatment based on holding period for short-term gains was unjustified, allowing the assessee's appeal on this issue. The judgment was delivered on 06/02/2017. Case-Laws Income Tax Mon, 06 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338893