https://www.taxtmi.com/caselaws?id=781844 ITAT held that the assessee's share transactions gave rise to capital gains and not business income. It relied on the consistent treatment of shares as investments in audited financials, valuation at cost, use of own surplus funds, and receipt of dividend income, as well as past acceptance of capital gains treatment in earlier scrutiny assessments, with no change in facts or new material. On the disallowance under s.14A r.w.r. 8D, ITAT found that AO had not recorded the mandatory satisfaction and that the disallowance exceeded actual expenditure, and therefore directed deletion of the entire s.14A disallowance. en-us Mon, 17 Nov 2025 00:00:00 +0530 Thu, 20 Nov 2025 15:05:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781844 ITAT held that the assessee's share transactions gave rise to capital gains and not business income. It relied on the consistent treatment of shares as investments in audited financials, valuation at cost, use of own surplus funds, and receipt of dividend income, as well as past acceptance of capital gains treatment in earlier scrutiny assessments, with no change in facts or new material. On the disallowance under s.14A r.w.r. 8D, ITAT found that AO had not recorded the mandatory satisfaction and that the disallowance exceeded actual expenditure, and therefore directed deletion of the entire s.14A disallowance. Case-Laws Income Tax Mon, 17 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781844