https://www.taxtmi.com/caselaws?id=375571 The Tribunal directed the AO to verify evidence and re-compute various additions made, including oversold positions, interest on securities, trading profits, and transactions with specific parties. The CIT(A)'s directions were upheld, and the Tribunal dismissed certain grounds related to deductions and allowances. The AO was directed to re-compute interest levied under specific sections and treat speculative loss as a normal business loss. The Tribunal also upheld the rejection of the cash system of accounting and allowed set-off of additions against unexplained investments or expenditures. en-us Mon, 14 Jan 2019 00:00:00 +0530 Wed, 20 Feb 2019 19:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375571 The Tribunal directed the AO to verify evidence and re-compute various additions made, including oversold positions, interest on securities, trading profits, and transactions with specific parties. The CIT(A)'s directions were upheld, and the Tribunal dismissed certain grounds related to deductions and allowances. The AO was directed to re-compute interest levied under specific sections and treat speculative loss as a normal business loss. The Tribunal also upheld the rejection of the cash system of accounting and allowed set-off of additions against unexplained investments or expenditures. Case-Laws Income Tax Mon, 14 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375571