https://www.taxtmi.com/caselaws?id=197033 The Tribunal dismissed the Revenue's appeal challenging the treatment of long term capital gain as business profit, citing previous orders. The Tribunal upheld the taxation of transactions in shares/securities/mutual funds as income from business, based on prior decisions. Disallowance of legal and professional charges paid to the assessee's son was upheld due to lack of services rendered. The Tribunal remanded the disallowed repairs and maintenance expenditure issue for proper explanation. Reduction of income on account of export incentive and interest income was confirmed. The department's appeals were dismissed, with a partial allowance for statistical purposes in one party's case. en-us Tue, 31 May 2011 00:00:00 +0530 Fri, 22 Dec 2017 14:13:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197033 The Tribunal dismissed the Revenue's appeal challenging the treatment of long term capital gain as business profit, citing previous orders. The Tribunal upheld the taxation of transactions in shares/securities/mutual funds as income from business, based on prior decisions. Disallowance of legal and professional charges paid to the assessee's son was upheld due to lack of services rendered. The Tribunal remanded the disallowed repairs and maintenance expenditure issue for proper explanation. Reduction of income on account of export incentive and interest income was confirmed. The department's appeals were dismissed, with a partial allowance for statistical purposes in one party's case. Case-Laws Income Tax Tue, 31 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197033