https://www.taxtmi.com/caselaws?id=363045 The Tribunal upheld the decision to disallow the claim of Rs. 26,04,585/- for Portfolio Management Scheme (PMS) fees against capital gains. The Tribunal ruled that the PMS fees were not directly related to the acquisition or transfer of shares and did not qualify as deductible expenses under section 48 of the Income Tax Act. The appeal was dismissed, following precedents set by previous cases such as Devendra Kothari, Homi K. Bhabha, Pradeep Kumar Harlalka, and Capt. Avinash Chander Batra. en-us Wed, 30 May 2018 00:00:00 +0530 Fri, 06 Jul 2018 14:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=363045 The Tribunal upheld the decision to disallow the claim of Rs. 26,04,585/- for Portfolio Management Scheme (PMS) fees against capital gains. The Tribunal ruled that the PMS fees were not directly related to the acquisition or transfer of shares and did not qualify as deductible expenses under section 48 of the Income Tax Act. The appeal was dismissed, following precedents set by previous cases such as Devendra Kothari, Homi K. Bhabha, Pradeep Kumar Harlalka, and Capt. Avinash Chander Batra. Case-Laws Income Tax Wed, 30 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=363045