https://www.taxtmi.com/caselaws?id=179948 The appeals of the assessee were allowed in part concerning the assessment of capital gains from transactions through Portfolio Management Services (PMS). The Income Tax Appellate Tribunal (ITAT) held that the income from PMS should be assessed under 'capital gains,' partially in favor of the assessee. The ITAT emphasized determining income from PMS correctly based on evidence provided by the assessee. The treatment of long-term capital loss on the transfer of units of US-64 and confirmation of interest charged under section 234C were not specifically addressed in the judgment. en-us Wed, 11 Jul 2012 00:00:00 +0530 Thu, 15 Jun 2017 19:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179948 The appeals of the assessee were allowed in part concerning the assessment of capital gains from transactions through Portfolio Management Services (PMS). The Income Tax Appellate Tribunal (ITAT) held that the income from PMS should be assessed under 'capital gains,' partially in favor of the assessee. The ITAT emphasized determining income from PMS correctly based on evidence provided by the assessee. The treatment of long-term capital loss on the transfer of units of US-64 and confirmation of interest charged under section 234C were not specifically addressed in the judgment. Case-Laws Income Tax Wed, 11 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179948