https://www.taxtmi.com/caselaws?id=210535 The appeal was dismissed as the Tribunal upheld that transactions under Portfolio Management Scheme (PMS) were considered trading activities, resulting in profits classified as business income. Therefore, exemptions under Section 10(38) and concessional rates under Section 111-A were not applicable. The assessing officer was directed to charge interest under Sections 234-B and 234-D as per the Tribunal's order. en-us Fri, 16 Dec 2011 00:00:00 +0530 Sat, 09 Apr 2016 11:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210535 The appeal was dismissed as the Tribunal upheld that transactions under Portfolio Management Scheme (PMS) were considered trading activities, resulting in profits classified as business income. Therefore, exemptions under Section 10(38) and concessional rates under Section 111-A were not applicable. The assessing officer was directed to charge interest under Sections 234-B and 234-D as per the Tribunal's order. Case-Laws Income Tax Fri, 16 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210535