https://www.taxtmi.com/caselaws?id=374989 The Appellate Tribunal ITAT Mumbai dismissed the appeal for AY 2011-12, affirming the treatment of Short Term Capital Gain as business income due to frequent trading activity by the assessee. However, for AY 2012-13, the Tribunal partly allowed the appeal, restricting expense disallowance to 5% of exempt income and deleting interest disallowance due to sufficient interest-free funds. The Tribunal also directed re-examination of amounts written off against SEBI refund. Judgments were delivered on 5th December 2018. en-us Wed, 05 Dec 2018 00:00:00 +0530 Wed, 13 Feb 2019 06:08:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374989 The Appellate Tribunal ITAT Mumbai dismissed the appeal for AY 2011-12, affirming the treatment of Short Term Capital Gain as business income due to frequent trading activity by the assessee. However, for AY 2012-13, the Tribunal partly allowed the appeal, restricting expense disallowance to 5% of exempt income and deleting interest disallowance due to sufficient interest-free funds. The Tribunal also directed re-examination of amounts written off against SEBI refund. Judgments were delivered on 5th December 2018. Case-Laws Income Tax Wed, 05 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374989