https://www.taxtmi.com/caselaws?id=363623 The Tribunal held that Portfolio Management Fees (PMF) and Performance Linked Fees (PLF) paid by the assessee are not allowable as deductions under Section 48 of the Income Tax Act while computing Short Term Capital Gains on the transfer of shares. The Tribunal determined that these fees are not directly linked to the transfer of shares and do not qualify as expenses wholly and exclusively incurred in connection with the transfer or as part of the cost of acquisition or improvement of the shares. The Tribunal upheld the disallowance of PMF and PLF charges, reversing the decision of the CIT(A) and restoring the Assessing Officer's original assessment. en-us Fri, 29 Jun 2018 00:00:00 +0530 Mon, 16 Jul 2018 08:08:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=363623 The Tribunal held that Portfolio Management Fees (PMF) and Performance Linked Fees (PLF) paid by the assessee are not allowable as deductions under Section 48 of the Income Tax Act while computing Short Term Capital Gains on the transfer of shares. The Tribunal determined that these fees are not directly linked to the transfer of shares and do not qualify as expenses wholly and exclusively incurred in connection with the transfer or as part of the cost of acquisition or improvement of the shares. The Tribunal upheld the disallowance of PMF and PLF charges, reversing the decision of the CIT(A) and restoring the Assessing Officer's original assessment. Case-Laws Income Tax Fri, 29 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=363623