https://www.taxtmi.com/caselaws?id=398644 The ITAT allowed the appeal filed by the assessee, overturning the rejection of the delay condonation in filing the appeal for the assessment year 2014-15. It also nullified the treating of the loss from share trading as speculation loss, emphasizing the assessing officer's jurisdiction in limited scrutiny cases. Additionally, the ITAT canceled the directions for reopening cases issued by the CIT(A), stating that the CIT(A) exceeded his authority. The outcome regarding the stay on demand issued under section 156 was favorable for the appellant, although not discussed in detail in the judgment. en-us Wed, 16 Sep 2020 00:00:00 +0530 Sat, 19 Sep 2020 14:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398644 The ITAT allowed the appeal filed by the assessee, overturning the rejection of the delay condonation in filing the appeal for the assessment year 2014-15. It also nullified the treating of the loss from share trading as speculation loss, emphasizing the assessing officer's jurisdiction in limited scrutiny cases. Additionally, the ITAT canceled the directions for reopening cases issued by the CIT(A), stating that the CIT(A) exceeded his authority. The outcome regarding the stay on demand issued under section 156 was favorable for the appellant, although not discussed in detail in the judgment. Case-Laws Income Tax Wed, 16 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398644