https://www.taxtmi.com/caselaws?id=282784 The Tribunal upheld the deletion of the addition of Rs. 14,94,000/- for the assessment year 2001-02 concerning the loss claimed on forfeiture of shares, treating it as a capital loss. The disallowance of professional fee paid to Shri S.K. Mitra was restricted to 10% of the payments made to Mitra for the same assessment year. The levy of tax on long-term capital gain at 20% instead of 35% was upheld. The treatment of Rs. 11,06,271/- as short-term capital gain instead of business income for the assessment year 2002-03 was confirmed. The addition of interest of Rs. 4.79 crores due to differential interest rates on loans was remanded for re-examination in light of the Supreme Court's decision. en-us Fri, 16 Sep 2011 00:00:00 +0530 Fri, 23 Aug 2019 14:45:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282784 The Tribunal upheld the deletion of the addition of Rs. 14,94,000/- for the assessment year 2001-02 concerning the loss claimed on forfeiture of shares, treating it as a capital loss. The disallowance of professional fee paid to Shri S.K. Mitra was restricted to 10% of the payments made to Mitra for the same assessment year. The levy of tax on long-term capital gain at 20% instead of 35% was upheld. The treatment of Rs. 11,06,271/- as short-term capital gain instead of business income for the assessment year 2002-03 was confirmed. The addition of interest of Rs. 4.79 crores due to differential interest rates on loans was remanded for re-examination in light of the Supreme Court's decision. Case-Laws Income Tax Fri, 16 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282784