https://www.taxtmi.com/caselaws?id=180790 The Tribunal dismissed the revenue's appeals, upholding the classification of gains from Portfolio Management Services (PMS) as capital gains, not business income. Additionally, the disallowance under Section 14A read with Rule 8D was deleted as the expenditure on PMS had not been claimed by the assessee. Therefore, the Tribunal affirmed the decisions of the Commissioner of Income Tax (Appeals) on both issues, resulting in the dismissal of all appeals filed by the revenue. en-us Thu, 27 Sep 2012 00:00:00 +0530 Fri, 22 Dec 2017 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180790 The Tribunal dismissed the revenue's appeals, upholding the classification of gains from Portfolio Management Services (PMS) as capital gains, not business income. Additionally, the disallowance under Section 14A read with Rule 8D was deleted as the expenditure on PMS had not been claimed by the assessee. Therefore, the Tribunal affirmed the decisions of the Commissioner of Income Tax (Appeals) on both issues, resulting in the dismissal of all appeals filed by the revenue. Case-Laws Income Tax Thu, 27 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180790