https://www.taxtmi.com/caselaws?id=417268 The Income Tax Appellate Tribunal (ITAT) partially allowed the appeal, directing the Assessing Officer (AO) to reexamine the disallowance under section 14A of the Income Tax Act, 1961. The ITAT instructed the AO to delete a portion of the disallowance related to insufficient funds for investments and to recalculate the disallowance based on investments generating exempt income. Additionally, the ITAT instructed the AO to review the treatment of a capital loss as capital gains, requiring the assessee to provide supporting documentation for the claimed loss on the sale of unlisted shares. en-us Mon, 13 Dec 2021 00:00:00 +0530 Wed, 19 Jan 2022 08:54:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417268 The Income Tax Appellate Tribunal (ITAT) partially allowed the appeal, directing the Assessing Officer (AO) to reexamine the disallowance under section 14A of the Income Tax Act, 1961. The ITAT instructed the AO to delete a portion of the disallowance related to insufficient funds for investments and to recalculate the disallowance based on investments generating exempt income. Additionally, the ITAT instructed the AO to review the treatment of a capital loss as capital gains, requiring the assessee to provide supporting documentation for the claimed loss on the sale of unlisted shares. Case-Laws Income Tax Mon, 13 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417268