https://www.taxtmi.com/caselaws?id=428197 The tribunal partly allowed the appeals, holding that the CIT(A)'s enhancement of income by changing the head of income was not sustainable due to the lack of opportunity provided to the assessee. The tribunal directed the AO to treat the sale of 'Matrix IT Building' as Capital Gains and to recalculate the revenue from the Hotel Building project. The disallowance under Section 14A was upheld, while other grounds were dismissed as either academic or not pressed. en-us Thu, 22 Sep 2022 00:00:00 +0530 Mon, 18 Sep 2023 10:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428197 The tribunal partly allowed the appeals, holding that the CIT(A)'s enhancement of income by changing the head of income was not sustainable due to the lack of opportunity provided to the assessee. The tribunal directed the AO to treat the sale of 'Matrix IT Building' as Capital Gains and to recalculate the revenue from the Hotel Building project. The disallowance under Section 14A was upheld, while other grounds were dismissed as either academic or not pressed. Case-Laws Income Tax Thu, 22 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428197