https://www.taxtmi.com/caselaws?id=287249 The ITAT upheld the CIT(A)'s decisions in a tax case, ruling that the sale of shares was correctly treated as 'Business Income' rather than Short Term Capital Gains due to trading intent. Interest income was deemed 'Income from Other Sources,' and various expenses were disallowed. An addition for low withdrawals was upheld, and a special audit under Section 142(2A) was deemed necessary. The ITAT dismissed the appeal, affirming all decisions made by the CIT(A). en-us Mon, 24 Jun 2019 00:00:00 +0530 Mon, 06 Apr 2020 10:27:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287249 The ITAT upheld the CIT(A)'s decisions in a tax case, ruling that the sale of shares was correctly treated as 'Business Income' rather than Short Term Capital Gains due to trading intent. Interest income was deemed 'Income from Other Sources,' and various expenses were disallowed. An addition for low withdrawals was upheld, and a special audit under Section 142(2A) was deemed necessary. The ITAT dismissed the appeal, affirming all decisions made by the CIT(A). Case-Laws Income Tax Mon, 24 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287249