https://www.taxtmi.com/caselaws?id=307594 The appeal was against the disallowance of long term capital gains claimed as exempt under section 10(38) of the Income Tax Act. The assessee did not press Ground No.1 regarding this issue, which was rejected. The focus then shifted to Ground No.2, where the Tribunal held that as the assessee was a dealer in shares, the expenditure incurred in acquiring shares cannot be disallowed under section 14A. The Tribunal partly allowed the appeal, pronouncing judgment on 09.05.2014. en-us Fri, 09 May 2014 00:00:00 +0530 Mon, 24 Apr 2023 21:07:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307594 The appeal was against the disallowance of long term capital gains claimed as exempt under section 10(38) of the Income Tax Act. The assessee did not press Ground No.1 regarding this issue, which was rejected. The focus then shifted to Ground No.2, where the Tribunal held that as the assessee was a dealer in shares, the expenditure incurred in acquiring shares cannot be disallowed under section 14A. The Tribunal partly allowed the appeal, pronouncing judgment on 09.05.2014. Case-Laws Income Tax Fri, 09 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307594