https://www.taxtmi.com/caselaws?id=217020 The Tribunal upheld the Commissioner of Income-tax (Appeals)'s findings that gains from Portfolio Management Services (PMS) should be classified as capital gains, not business income. The addition under 'income from house property' was restored by the Tribunal, disagreeing with the CIT(A)'s decision. The Tribunal deleted the disallowance under section 14A for expenses related to earning exempt dividend income. The issue of the closure of the share trading business was deemed premature and not adjudicated, as it did not affect the current year's income assessment. en-us Thu, 21 Jun 2012 00:00:00 +0530 Fri, 08 Apr 2016 16:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217020 The Tribunal upheld the Commissioner of Income-tax (Appeals)'s findings that gains from Portfolio Management Services (PMS) should be classified as capital gains, not business income. The addition under 'income from house property' was restored by the Tribunal, disagreeing with the CIT(A)'s decision. The Tribunal deleted the disallowance under section 14A for expenses related to earning exempt dividend income. The issue of the closure of the share trading business was deemed premature and not adjudicated, as it did not affect the current year's income assessment. Case-Laws Income Tax Thu, 21 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217020