{"id":2790,"date":"2018-11-01T13:14:49","date_gmt":"2018-11-01T13:14:49","guid":{"rendered":"http:\/\/itatonline.org\/digest\/acit-v-apurva-mahesh-shah-2018-172-itd-127-mum-trib\/"},"modified":"2018-11-01T13:14:49","modified_gmt":"2018-11-01T13:14:49","slug":"acit-v-apurva-mahesh-shah-2018-172-itd-127-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/acit-v-apurva-mahesh-shah-2018-172-itd-127-mum-trib\/","title":{"rendered":"ACIT  v.  Apurva Mahesh Shah. (2018) 172 ITD 127 (Mum)  (Trib.)"},"content":{"rendered":"<p>Allowing the appeal of the\u00a0 revenue , the Tribunal held that ,the Portfolio Management Fees and Performance Linked Fees were paid by the assessee to his portfolio manager towards service charges for making investments of his funds and managing the portfolioof securities, therefore, the same not being an expenditure incurred wholly and exclusively in connection with the transfer of the shares out of which STCG had arisen to the assessee,\u00a0 is not allowable as a deduction. ( Referred , Devendra Motilal Kothari v. Dy. CIT [2011] 132 ITD 173 (Mum) (Trib), Dy. CIT v. KRA Holdings and Trading (P.) Ltd. [2012] 54 SOT 493 (Mum) (Trib) CIT v. Shakuntla Kantilal (Smt.)\u00a0 [1991]190 ITR 56 (Bom) (HC)\u00a0 \u00a0\u00a0Pradeep Kumar Harlalka v. A CIT [2011] 47 SOT 204 (URO) (Mum.), (Trib ,CIT v. Roshanbabu Mohammed Hussein Merchant [2005]275 ITR 231( Bom( HC)\u00a0 Homi K. Bhabha v. ITO (IT) [2011] 48 SOT 102 (Mum) (Trib) )( AY.2007-08)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 48 : Capital gains \u2013 Computation \u2013 Short term capital gain- Performance linked fees and portfolio management fees paid to portfolio manager is not allowable as deduction .[ S.45 ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2790","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-J0","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=2790"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2790\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=2790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=2790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=2790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}