https://www.taxtmi.com/caselaws?id=182458 The Tribunal upheld the CIT(A)'s decision, classifying income from the purchase and sale of shares through Portfolio Management Service providers as capital gains, not business income. Disallowance under section 14A read with Rule 8D was deleted as it was not applicable for the relevant assessment year. Portfolio Management Service fees and NSDL charges were allowed as deductible expenses from capital gains. The revenue's appeal was dismissed, and the assessee's cross-objections were allowed, affirming the treatment of income and deductions as per the Tribunal's decisions. en-us Fri, 31 Aug 2012 00:00:00 +0530 Wed, 11 May 2016 10:43:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182458 The Tribunal upheld the CIT(A)'s decision, classifying income from the purchase and sale of shares through Portfolio Management Service providers as capital gains, not business income. Disallowance under section 14A read with Rule 8D was deleted as it was not applicable for the relevant assessment year. Portfolio Management Service fees and NSDL charges were allowed as deductible expenses from capital gains. The revenue's appeal was dismissed, and the assessee's cross-objections were allowed, affirming the treatment of income and deductions as per the Tribunal's decisions. Case-Laws Income Tax Fri, 31 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182458