https://www.taxtmi.com/caselaws?id=339682 The Tribunal remanded issues back to the AO for re-evaluation for the assessment year 2007-08, including the disallowance of expenses under Section 14A and the provision for loss in the ESF Account. For the assessment year 2008-09, the Tribunal partly allowed the appeals, remanding the Section 14A disallowance and interest levy issues for de-novo determination while affirming the treatment of short-term capital gains as business income. The Tribunal directed a fresh assessment on the levy of interest under Sections 234A and 234B. en-us Fri, 24 Feb 2017 00:00:00 +0530 Mon, 06 Mar 2017 09:05:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339682 The Tribunal remanded issues back to the AO for re-evaluation for the assessment year 2007-08, including the disallowance of expenses under Section 14A and the provision for loss in the ESF Account. For the assessment year 2008-09, the Tribunal partly allowed the appeals, remanding the Section 14A disallowance and interest levy issues for de-novo determination while affirming the treatment of short-term capital gains as business income. The Tribunal directed a fresh assessment on the levy of interest under Sections 234A and 234B. Case-Laws Income Tax Fri, 24 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339682