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2019 (1) TMI 1780 - ITAT DELHICorrect head of income - Characterisation of income - Issue of treatment of long-term capital loss as business loss by treating it as a business income - HELD THAT:- Respectfully following the precedents of the earlier years [2018 (8) TMI 1961 - ITAT DELHI] and as a principle of consistency, we uphold the order of the CIT(A) that long term capital gain/capital loss cannot be treated as business income or loss and also long-term capital gain cannot be treated as business income. Accordingly, ground No. 1 raised by the revenue stands dismissed. Disallowance u/s 14A - HELD THAT:- CIT(A) following the order of the earlier year has deleted the said disallowance of interest this issue has come up for consideration before the Tribunal in the earlier years and in so far as disallowance of interest is concerned, Tribunal has held that once assessee has huge surplus funds which exceeds the investment then no interest can be disallowed. Accordingly order of the Ld. CIT(A) deleting the disallowance of interest is upheld. - Decided against revenue.
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