https://www.taxtmi.com/caselaws?id=373110 The Tribunal directed the Assessing Officer to verify the conversion date of shares from stock-in-trade to investments for the disallowance of proportionate interest under Section 36(1)(iii) of the Income Tax Act. The issue was remanded for factual determination, emphasizing the need for accurate computation. The Tribunal did not provide a separate ruling on the applicability of Section 14A regarding expenditure related to earning exempt income, as the primary focus was on verifying the conversion date. The appeal was accepted for statistical purposes, with instructions for reevaluation based on verified facts. en-us Mon, 31 Dec 2018 00:00:00 +0530 Mon, 07 Jan 2019 12:23:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373110 The Tribunal directed the Assessing Officer to verify the conversion date of shares from stock-in-trade to investments for the disallowance of proportionate interest under Section 36(1)(iii) of the Income Tax Act. The issue was remanded for factual determination, emphasizing the need for accurate computation. The Tribunal did not provide a separate ruling on the applicability of Section 14A regarding expenditure related to earning exempt income, as the primary focus was on verifying the conversion date. The appeal was accepted for statistical purposes, with instructions for reevaluation based on verified facts. Case-Laws Income Tax Mon, 31 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373110