https://www.taxtmi.com/caselaws?id=362734 The Tribunal upheld the validity of the assessment reopening, deemed the disallowance under Section 14A excessive, and remitted it back to the AO for reconsideration. The disallowance of provisions for gratuity and leave wages was also sent back for fresh adjudication. However, the computation and taxation of Long-Term Capital Gain (LTCG) were decided in favor of the assessee, ruling that the transaction was an exchange and not subject to LTCG tax under Section 50B. en-us Wed, 16 May 2018 00:00:00 +0530 Thu, 15 Nov 2018 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362734 The Tribunal upheld the validity of the assessment reopening, deemed the disallowance under Section 14A excessive, and remitted it back to the AO for reconsideration. The disallowance of provisions for gratuity and leave wages was also sent back for fresh adjudication. However, the computation and taxation of Long-Term Capital Gain (LTCG) were decided in favor of the assessee, ruling that the transaction was an exchange and not subject to LTCG tax under Section 50B. Case-Laws Income Tax Wed, 16 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362734