https://www.taxtmi.com/caselaws?id=339032 The Tribunal upheld the validity of the reassessment for multiple assessment years, citing relevant case law. The income from the sale of investments in shares and securities was treated as capital gains rather than business income, as the assessee was deemed an investor. The disallowance under section 14A of the Income Tax Act was not pursued due to its minimal amount. Consequently, the Tribunal allowed all appeals, directing the Assessing Officer to make necessary adjustments in line with the distinction between investment income and business income. en-us Tue, 31 Jan 2017 00:00:00 +0530 Fri, 17 Feb 2017 08:42:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339032 The Tribunal upheld the validity of the reassessment for multiple assessment years, citing relevant case law. The income from the sale of investments in shares and securities was treated as capital gains rather than business income, as the assessee was deemed an investor. The disallowance under section 14A of the Income Tax Act was not pursued due to its minimal amount. Consequently, the Tribunal allowed all appeals, directing the Assessing Officer to make necessary adjustments in line with the distinction between investment income and business income. Case-Laws Income Tax Tue, 31 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339032