https://www.taxtmi.com/caselaws?id=351489 The Tribunal dismissed the AO's appeal and partly allowed the assessee's appeal, providing relief on several disallowances and holding that the capital gains were not taxable in India. The Tribunal upheld the FAA's decision on disallowances under various sections of the Income-tax Act, including disallowance under Section 14A and disallowance of legal and professional fees. Additionally, the Tribunal ruled in favor of the assessee regarding the disallowance of brokerage expenses and the taxability of capital gains on the sale of shares by a wholly-owned subsidiary, emphasizing the applicability of the DTAA between India and Mauritius. en-us Fri, 10 Nov 2017 00:00:00 +0530 Sat, 25 Nov 2017 09:20:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351489 The Tribunal dismissed the AO's appeal and partly allowed the assessee's appeal, providing relief on several disallowances and holding that the capital gains were not taxable in India. The Tribunal upheld the FAA's decision on disallowances under various sections of the Income-tax Act, including disallowance under Section 14A and disallowance of legal and professional fees. Additionally, the Tribunal ruled in favor of the assessee regarding the disallowance of brokerage expenses and the taxability of capital gains on the sale of shares by a wholly-owned subsidiary, emphasizing the applicability of the DTAA between India and Mauritius. Case-Laws Income Tax Fri, 10 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351489