https://www.taxtmi.com/caselaws?id=388380 The Appellate Tribunal upheld that short term capital gains from the sale and purchase of shares and mutual funds are assessable under the head Capital Gains only, emphasizing consistency in treatment across assessment years. The Tribunal ruled in favor of the assessee, citing the principle of consistency and lack of reversal by the High Court. Regarding the disallowance of foreclosure expenses, the Assessing Officer initially disallowed the expenses, but the CIT(A) favored the assessee's explanation, deeming the expenses allowable. The Tribunal remitted the issue back to the assessing officer for further examination based on the provided details. en-us Fri, 02 Aug 2019 00:00:00 +0530 Thu, 14 Nov 2019 14:33:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388380 The Appellate Tribunal upheld that short term capital gains from the sale and purchase of shares and mutual funds are assessable under the head Capital Gains only, emphasizing consistency in treatment across assessment years. The Tribunal ruled in favor of the assessee, citing the principle of consistency and lack of reversal by the High Court. Regarding the disallowance of foreclosure expenses, the Assessing Officer initially disallowed the expenses, but the CIT(A) favored the assessee's explanation, deeming the expenses allowable. The Tribunal remitted the issue back to the assessing officer for further examination based on the provided details. Case-Laws Income Tax Fri, 02 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388380