https://www.taxtmi.com/caselaws?id=381355 The Tribunal ruled that Short-Term Capital Gains (STCG) should be treated as capital gains, overturning the lower authorities' decision to treat them as business income due to the assessee's history of treating similar gains as capital gains, the holding period of shares, and funding sources. Regarding the disallowance of interest expenses under Section 14A, the Tribunal directed the AO to compute the disallowance considering only investments yielding exempt income. For Assessment Year 2011-12, the Tribunal partially allowed the appeal, adjusting the treatment of STCG and recalculating the disallowance under Section 14A. For Assessment Year 2012-13, the Tribunal fully allowed the appeal, directing the Short-Term Capital Loss to be treated as Capital Gains. en-us Thu, 06 Jun 2019 00:00:00 +0530 Sat, 08 Jun 2019 13:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381355 The Tribunal ruled that Short-Term Capital Gains (STCG) should be treated as capital gains, overturning the lower authorities' decision to treat them as business income due to the assessee's history of treating similar gains as capital gains, the holding period of shares, and funding sources. Regarding the disallowance of interest expenses under Section 14A, the Tribunal directed the AO to compute the disallowance considering only investments yielding exempt income. For Assessment Year 2011-12, the Tribunal partially allowed the appeal, adjusting the treatment of STCG and recalculating the disallowance under Section 14A. For Assessment Year 2012-13, the Tribunal fully allowed the appeal, directing the Short-Term Capital Loss to be treated as Capital Gains. Case-Laws Income Tax Thu, 06 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381355