https://www.taxtmi.com/caselaws?id=781252 ITAT Ahmedabad held that the AO correctly allowed the assessee's short-term capital loss (STCL) on sale of shares and PCIT's revision disallowing that allowance was unsustainable, since PCIT pointed to no infirmity in the assessee's explanations or computations. However, the Tribunal upheld PCIT's finding that disallowance under s.14A was understated and should be increased to Rs. 42,82,354. The Tribunal also held the claim of CSR expenditure as a deduction under s.80G was legally tenable, so the assessment was not erroneous on that ground. Overall, PCIT's revision was partly upheld only on the s.14A issue. en-us Tue, 09 Sep 2025 00:00:00 +0530 Thu, 13 Nov 2025 08:14:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781252 ITAT Ahmedabad held that the AO correctly allowed the assessee's short-term capital loss (STCL) on sale of shares and PCIT's revision disallowing that allowance was unsustainable, since PCIT pointed to no infirmity in the assessee's explanations or computations. However, the Tribunal upheld PCIT's finding that disallowance under s.14A was understated and should be increased to Rs. 42,82,354. The Tribunal also held the claim of CSR expenditure as a deduction under s.80G was legally tenable, so the assessment was not erroneous on that ground. Overall, PCIT's revision was partly upheld only on the s.14A issue. Case-Laws Income Tax Tue, 09 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781252