https://www.taxtmi.com/caselaws?id=347483 The tribunal ruled in favor of the appellant in the case, regarding the short term capital gain assessment, interpretation of "class of assets" for capital gain computation, and disallowance under section 14A of the Act. The tribunal held that the short term capital gain should be assessed at the amount declared by the appellant, as the assets sold fell within the same class of assets and had the same rate of depreciation. Additionally, the tribunal concluded that assets in the same block need not belong to the same class, and the disallowance under section 14A was deleted due to lack of proper satisfaction by the AO. en-us Thu, 31 Aug 2017 00:00:00 +0530 Tue, 05 Sep 2017 16:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347483 The tribunal ruled in favor of the appellant in the case, regarding the short term capital gain assessment, interpretation of "class of assets" for capital gain computation, and disallowance under section 14A of the Act. The tribunal held that the short term capital gain should be assessed at the amount declared by the appellant, as the assets sold fell within the same class of assets and had the same rate of depreciation. Additionally, the tribunal concluded that assets in the same block need not belong to the same class, and the disallowance under section 14A was deleted due to lack of proper satisfaction by the AO. Case-Laws Income Tax Thu, 31 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347483