https://www.taxtmi.com/caselaws?id=342741 The Tribunal upheld the CIT(A)'s decision to treat income from the sale of mutual funds and shares as long-term capital gain, following precedents and holding that the transactions were investments. Regarding disallowance under Section 14A, the Tribunal remitted the issue back to the AO for reassessment due to failure to follow guidelines. The Tribunal also ruled in favor of treating the business loss as a short-term capital loss. The outcome included partial allowance of the revenue's appeal for 2009-10, dismissal of the revenue's appeal for 2010-11, and allowance of the assessee's appeals for both years. en-us Wed, 03 May 2017 00:00:00 +0530 Tue, 09 May 2017 18:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342741 The Tribunal upheld the CIT(A)'s decision to treat income from the sale of mutual funds and shares as long-term capital gain, following precedents and holding that the transactions were investments. Regarding disallowance under Section 14A, the Tribunal remitted the issue back to the AO for reassessment due to failure to follow guidelines. The Tribunal also ruled in favor of treating the business loss as a short-term capital loss. The outcome included partial allowance of the revenue's appeal for 2009-10, dismissal of the revenue's appeal for 2010-11, and allowance of the assessee's appeals for both years. Case-Laws Income Tax Wed, 03 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342741