https://www.taxtmi.com/caselaws?id=192162 The Tribunal upheld the CIT(A)'s decision to allow short and long term capital gains, dismissing the Revenue's appeal regarding the conversion of stock-in-trade into investments. The disallowance of V-SAT and Leaseline charges under section 40(a)(ia) was deleted based on a High Court ruling, but the disallowance of transaction charges to the stock exchange was remanded for reassessment. The Assessee's Cross Objection was partially allowed, with the disallowance under section 14A sent back for reevaluation and the bad debt claim approved based on legal precedents and court decisions. en-us Fri, 19 Jul 2013 00:00:00 +0530 Wed, 17 May 2017 18:52:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192162 The Tribunal upheld the CIT(A)'s decision to allow short and long term capital gains, dismissing the Revenue's appeal regarding the conversion of stock-in-trade into investments. The disallowance of V-SAT and Leaseline charges under section 40(a)(ia) was deleted based on a High Court ruling, but the disallowance of transaction charges to the stock exchange was remanded for reassessment. The Assessee's Cross Objection was partially allowed, with the disallowance under section 14A sent back for reevaluation and the bad debt claim approved based on legal precedents and court decisions. Case-Laws Income Tax Fri, 19 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192162