https://www.taxtmi.com/caselaws?id=59631 The Tribunal provided partial relief to the assessee, setting aside the disallowance of the lease equalization charge and directing that only the interest component of lease rent be taxed. It upheld the CIT(A)'s decisions on the setting off of the loss on the sale of a flat and the indexed cost determination for shares. The Tribunal instructed the AO to re-adjudicate the disallowance of interest under s. 14A, distinguishing between borrowed funds for shares as stock-in-trade and investment. It also directed that the provision for NPAs not be added to book profits under s. 115JA. en-us Tue, 27 Nov 2007 00:00:00 +0530 Sat, 27 Jan 2024 10:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59631 The Tribunal provided partial relief to the assessee, setting aside the disallowance of the lease equalization charge and directing that only the interest component of lease rent be taxed. It upheld the CIT(A)'s decisions on the setting off of the loss on the sale of a flat and the indexed cost determination for shares. The Tribunal instructed the AO to re-adjudicate the disallowance of interest under s. 14A, distinguishing between borrowed funds for shares as stock-in-trade and investment. It also directed that the provision for NPAs not be added to book profits under s. 115JA. Case-Laws Income Tax Tue, 27 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59631