https://www.taxtmi.com/caselaws?id=348087 The Tribunal set aside the CIT(A)'s decision on the disallowance of expenditure to earn exempt income and remanded the issue for fresh consideration by the Assessing Officer. Regarding the treatment of loss from trading of futures and options, the Tribunal upheld the CIT(A)'s decision to allow the loss as a business loss, dismissing the revenue's appeal. The Tribunal's judgments clarified the application of provisions on expenditure disallowance and the categorization of trading losses, providing guidance on these matters. en-us Wed, 13 Sep 2017 00:00:00 +0530 Sat, 16 Sep 2017 08:39:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348087 The Tribunal set aside the CIT(A)'s decision on the disallowance of expenditure to earn exempt income and remanded the issue for fresh consideration by the Assessing Officer. Regarding the treatment of loss from trading of futures and options, the Tribunal upheld the CIT(A)'s decision to allow the loss as a business loss, dismissing the revenue's appeal. The Tribunal's judgments clarified the application of provisions on expenditure disallowance and the categorization of trading losses, providing guidance on these matters. Case-Laws Income Tax Wed, 13 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348087