https://www.taxtmi.com/caselaws?id=342990 The Tribunal remanded the issue of disallowance of expenses related to exempted income back to the Assessing Officer for fresh adjudication, finding that no expenditure was incurred for earning exempt income. Additionally, the Tribunal directed the Assessing Officer not to treat short-term capital gains as business income, in line with previous decisions. Both the Revenue's and the assessee's appeals were allowed for statistical purposes. en-us Fri, 12 May 2017 00:00:00 +0530 Wed, 17 May 2017 07:18:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342990 The Tribunal remanded the issue of disallowance of expenses related to exempted income back to the Assessing Officer for fresh adjudication, finding that no expenditure was incurred for earning exempt income. Additionally, the Tribunal directed the Assessing Officer not to treat short-term capital gains as business income, in line with previous decisions. Both the Revenue's and the assessee's appeals were allowed for statistical purposes. Case-Laws Income Tax Fri, 12 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342990