https://www.taxtmi.com/caselaws?id=350504 The case involved issues concerning the disallowance of business loss, treatment of Portfolio Management Services income as short-term capital gain, addition of Rs. 50 crore in computing long-term capital gain on the sale of Salt Pan Land, and adoption of the cost of property per the registered valuer's report. The Tribunal upheld the disallowance of business loss and treatment of PMS income as capital gain, dismissed the addition of Rs. 50 crore in capital gain computation, and upheld the adoption of property cost as per the registered valuer's report. The assessee's appeal was partly allowed, while the revenue's appeal was dismissed. en-us Wed, 01 Nov 2017 00:00:00 +0530 Mon, 06 Nov 2017 21:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350504 The case involved issues concerning the disallowance of business loss, treatment of Portfolio Management Services income as short-term capital gain, addition of Rs. 50 crore in computing long-term capital gain on the sale of Salt Pan Land, and adoption of the cost of property per the registered valuer's report. The Tribunal upheld the disallowance of business loss and treatment of PMS income as capital gain, dismissed the addition of Rs. 50 crore in capital gain computation, and upheld the adoption of property cost as per the registered valuer's report. The assessee's appeal was partly allowed, while the revenue's appeal was dismissed. Case-Laws Income Tax Wed, 01 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350504