https://www.taxtmi.com/caselaws?id=407897 The Tribunal partly allowed the assessee's appeals for the assessment years 2011-12 and 2015-16. The Tribunal ruled in favor of the appellant regarding the classification of income from the sale of shares, directing it to be treated as short term capital gains. It also limited the disallowance under section 14A to the extent of exempt income earned. However, the Tribunal upheld the charging of interest under sections 234A, 234B, 234C, and 234D as mandatory. The challenge against the initiation of penalty proceedings under section 271(1)(c) was deemed premature and dismissed by the Tribunal. en-us Thu, 25 Mar 2021 00:00:00 +0530 Tue, 25 May 2021 09:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407897 The Tribunal partly allowed the assessee's appeals for the assessment years 2011-12 and 2015-16. The Tribunal ruled in favor of the appellant regarding the classification of income from the sale of shares, directing it to be treated as short term capital gains. It also limited the disallowance under section 14A to the extent of exempt income earned. However, the Tribunal upheld the charging of interest under sections 234A, 234B, 234C, and 234D as mandatory. The challenge against the initiation of penalty proceedings under section 271(1)(c) was deemed premature and dismissed by the Tribunal. Case-Laws Income Tax Thu, 25 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407897