https://www.taxtmi.com/caselaws?id=348395 The tribunal determined that income from the sale of shares should be treated as capital gains, not business income, as the assessee was deemed an investor, not a trader. The disallowance under Section 14A was deleted since the Assessing Officer failed to verify the correctness of the claim before applying Rule 8D. As a result, the revenue's appeals were dismissed. en-us Mon, 18 Sep 2017 00:00:00 +0530 Thu, 21 Sep 2017 07:14:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348395 The tribunal determined that income from the sale of shares should be treated as capital gains, not business income, as the assessee was deemed an investor, not a trader. The disallowance under Section 14A was deleted since the Assessing Officer failed to verify the correctness of the claim before applying Rule 8D. As a result, the revenue's appeals were dismissed. Case-Laws Income Tax Mon, 18 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348395