A $P$-invariant subspace is $T$-invariant, hence it is a sum of weight spaces. So, each such subspace corresponds to a subset of the set of positive roots. The additional condition of $U$-invariance forces these subsets to have the following property: if $\alpha$ is in subset and $\beta - \alpha$ is a sum of positive roots then $\beta$ is in the subset.
Sasha
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