https://www.taxtmi.com/caselaws?id=395774 The Appellate Tribunal ITAT Pune allowed the appeal of the assessee, setting aside the orders of the CIT(A) on both issues. The Tribunal held that the disallowance under section 17(2) of the Act was incorrect as the transactions were business-related, not advances. Additionally, the Tribunal found that the addition of capital gains in the hands of the assessee was not maintainable. The judgment was pronounced on 20th December 2019 by the ITAT Pune. en-us Fri, 20 Dec 2019 00:00:00 +0530 Sat, 06 Jun 2020 22:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395774 The Appellate Tribunal ITAT Pune allowed the appeal of the assessee, setting aside the orders of the CIT(A) on both issues. The Tribunal held that the disallowance under section 17(2) of the Act was incorrect as the transactions were business-related, not advances. Additionally, the Tribunal found that the addition of capital gains in the hands of the assessee was not maintainable. The judgment was pronounced on 20th December 2019 by the ITAT Pune. Case-Laws Income Tax Fri, 20 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395774