https://www.taxtmi.com/caselaws?id=357810 The appeals in ITA No. 150/Coch/2014 were partly allowed for statistical purposes, with the disallowance under Section 40(a)(ia) dismissed as not pressed. The rejection of the loss from share transactions as speculative loss was remitted to the Assessing Officer for bifurcation, citing that both share trading and derivative transactions are non-speculative. The disallowance under Section 14A was partly allowed, directing the AO to disallow 2% of exempt income. However, the treatment of interest received from GIDA as income from other sources was upheld, while the interest income earned on margin money paid by GIDA was treated as income from other sources. en-us Mon, 19 Mar 2018 00:00:00 +0530 Thu, 29 Mar 2018 14:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357810 The appeals in ITA No. 150/Coch/2014 were partly allowed for statistical purposes, with the disallowance under Section 40(a)(ia) dismissed as not pressed. The rejection of the loss from share transactions as speculative loss was remitted to the Assessing Officer for bifurcation, citing that both share trading and derivative transactions are non-speculative. The disallowance under Section 14A was partly allowed, directing the AO to disallow 2% of exempt income. However, the treatment of interest received from GIDA as income from other sources was upheld, while the interest income earned on margin money paid by GIDA was treated as income from other sources. Case-Laws Income Tax Mon, 19 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357810