https://www.taxtmi.com/caselaws?id=339091 The appeal filed by the assessee was partly allowed, with the Tribunal ruling in favor of the assessee on various grounds including disallowance under Section 14A and loss due to revaluation of open forward exchange contracts. However, the Tribunal upheld the taxability of consideration received on the assignment of a patent as capital gains. The AO's appeal on treating the amount as a trading receipt was dismissed. The order was pronounced on 15th February 2017, with the assessee's appeal partly succeeding and the AO's appeal being dismissed. en-us Wed, 15 Feb 2017 00:00:00 +0530 Sun, 19 Feb 2017 17:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339091 The appeal filed by the assessee was partly allowed, with the Tribunal ruling in favor of the assessee on various grounds including disallowance under Section 14A and loss due to revaluation of open forward exchange contracts. However, the Tribunal upheld the taxability of consideration received on the assignment of a patent as capital gains. The AO's appeal on treating the amount as a trading receipt was dismissed. The order was pronounced on 15th February 2017, with the assessee's appeal partly succeeding and the AO's appeal being dismissed. Case-Laws Income Tax Wed, 15 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339091