https://www.taxtmi.com/caselaws?id=338889 The Tribunal concluded that the Long-Term Capital Loss (LTCL) incurred through Portfolio Management Services should be treated as capital gains, not business income, reversing the lower authorities' decision. However, the disallowance of expenses under Section 14A read with Rule 8D was upheld. The appeals for both assessment years were partly allowed, with the Tribunal ruling in favor of the assessee on the LTCL treatment but against them on the disallowance issue. en-us Wed, 08 Feb 2017 00:00:00 +0530 Mon, 13 Feb 2017 18:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338889 The Tribunal concluded that the Long-Term Capital Loss (LTCL) incurred through Portfolio Management Services should be treated as capital gains, not business income, reversing the lower authorities' decision. However, the disallowance of expenses under Section 14A read with Rule 8D was upheld. The appeals for both assessment years were partly allowed, with the Tribunal ruling in favor of the assessee on the LTCL treatment but against them on the disallowance issue. Case-Laws Income Tax Wed, 08 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338889