https://www.taxtmi.com/caselaws?id=351538 The ITAT Mumbai upheld the CIT(A)'s decision to treat profits from share transactions as capital gains rather than business income, emphasizing the nature of the assessee's investments. The Tribunal remanded the issue of interest expenditure back to the AO for further examination to determine the nexus between FDR income and interest expenditure, following a precedent from the Agra Bench. The Revenue's appeal was dismissed on the treatment of share profits but partly allowed for statistical purposes on the disallowance of interest expenditure. en-us Thu, 23 Nov 2017 00:00:00 +0530 Mon, 27 Nov 2017 08:15:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351538 The ITAT Mumbai upheld the CIT(A)'s decision to treat profits from share transactions as capital gains rather than business income, emphasizing the nature of the assessee's investments. The Tribunal remanded the issue of interest expenditure back to the AO for further examination to determine the nexus between FDR income and interest expenditure, following a precedent from the Agra Bench. The Revenue's appeal was dismissed on the treatment of share profits but partly allowed for statistical purposes on the disallowance of interest expenditure. Case-Laws Income Tax Thu, 23 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351538