https://www.taxtmi.com/caselaws?id=302728 The revenue's appeal was dismissed as the delay in filing was condoned, and the appeal was admitted for hearing. The addition made by the AO on account of disallowance of loss from purchase and sale of shares was deleted by the CIT(A) as the principal business was not deemed to be share trading. Additionally, the disallowance made by the AO under Rule 8D(2) of the I.T. Rules for expenses incurred for earning exempt income was also deleted by the CIT(A) due to lack of justification by the AO. The tribunal upheld the CIT(A)'s decisions, resulting in the dismissal of the revenue's appeal. en-us Fri, 04 Jul 2014 00:00:00 +0530 Wed, 15 Jun 2022 09:15:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302728 The revenue's appeal was dismissed as the delay in filing was condoned, and the appeal was admitted for hearing. The addition made by the AO on account of disallowance of loss from purchase and sale of shares was deleted by the CIT(A) as the principal business was not deemed to be share trading. Additionally, the disallowance made by the AO under Rule 8D(2) of the I.T. Rules for expenses incurred for earning exempt income was also deleted by the CIT(A) due to lack of justification by the AO. The tribunal upheld the CIT(A)'s decisions, resulting in the dismissal of the revenue's appeal. Case-Laws Income Tax Fri, 04 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302728