https://www.taxtmi.com/caselaws?id=242490 The Tribunal ruled in favor of the assessee, holding that income from the sale of shares and securities through Portfolio Management Services (PMS) and independently should be assessed as capital gains, not as business income. The Tribunal overturned the lower authorities' decisions, emphasizing factors such as the nature of transactions, use of own funds, and consistency in treatment of similar transactions in previous years. The short-term and long-term capital gains from both PMS and independent sales were deemed as capital gains based on these considerations. en-us Fri, 10 Jan 2014 00:00:00 +0530 Thu, 16 Jan 2014 09:52:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242490 The Tribunal ruled in favor of the assessee, holding that income from the sale of shares and securities through Portfolio Management Services (PMS) and independently should be assessed as capital gains, not as business income. The Tribunal overturned the lower authorities' decisions, emphasizing factors such as the nature of transactions, use of own funds, and consistency in treatment of similar transactions in previous years. The short-term and long-term capital gains from both PMS and independent sales were deemed as capital gains based on these considerations. Case-Laws Income Tax Fri, 10 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242490