https://www.taxtmi.com/caselaws?id=285704 The Revenue's appeals regarding the deletion of disallowance on account of Long Term Capital Gain (LTCG) and Short Term Capital Gain (STCG) were dismissed as the conversion of the firm into a Private Limited Company did not constitute a "transfer." The Tribunal upheld the CIT(A)'s decision on various disallowances, including under Section 14A and Section 40A(2), partially allowing the assessee's appeal on certain issues such as ad hoc disallowance of expenses and disallowance of commission expenses. The overall outcome favored the assessee with partial allowances and dismissals of Revenue's appeals. en-us Tue, 25 Jun 2019 00:00:00 +0530 Wed, 22 Jan 2020 21:07:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285704 The Revenue's appeals regarding the deletion of disallowance on account of Long Term Capital Gain (LTCG) and Short Term Capital Gain (STCG) were dismissed as the conversion of the firm into a Private Limited Company did not constitute a "transfer." The Tribunal upheld the CIT(A)'s decision on various disallowances, including under Section 14A and Section 40A(2), partially allowing the assessee's appeal on certain issues such as ad hoc disallowance of expenses and disallowance of commission expenses. The overall outcome favored the assessee with partial allowances and dismissals of Revenue's appeals. Case-Laws Income Tax Tue, 25 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285704