https://www.taxtmi.com/caselaws?id=296121 The Tribunal remitted the matter back to the AO to determine if the assessee maintained separate books of accounts and bank accounts for the two portfolios, the objective of acquiring the shares, the ratio of dividend earned to profits from sales, the volume, frequency, and regularity of transactions, and the list of shares transacted in each portfolio. The disallowance of expenditure of Rs. 18,57,355 for A.Y. 2005-06 was upheld due to the assessee's failure to provide documentary evidence. The profit on the sale of bonus units in Chola Freedom STF units was treated as long-term capital gains, with the Tribunal dismissing the Revenue's appeal. en-us Tue, 30 Apr 2013 00:00:00 +0530 Mon, 05 Jul 2021 14:22:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296121 The Tribunal remitted the matter back to the AO to determine if the assessee maintained separate books of accounts and bank accounts for the two portfolios, the objective of acquiring the shares, the ratio of dividend earned to profits from sales, the volume, frequency, and regularity of transactions, and the list of shares transacted in each portfolio. The disallowance of expenditure of Rs. 18,57,355 for A.Y. 2005-06 was upheld due to the assessee's failure to provide documentary evidence. The profit on the sale of bonus units in Chola Freedom STF units was treated as long-term capital gains, with the Tribunal dismissing the Revenue's appeal. Case-Laws Income Tax Tue, 30 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296121