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2002 (10) TMI 61 - HC - Income TaxThe assessee-respondent is the managing director of Rajasthan Polyesters Limited. Besides income from salary, he has derived income from dividend and money lending business - On a consideration of the entire material on the record, the authorities below have found that the shares held by the assessee were by way of investment only and that he was not dealing with them. Learned senior counsel appearing for the Department could not point out any legal or factual infirmity in the order of the Tribunal or in the order of the Commissioner of Income-tax (Appeals). The totality of all facts has been examined and correct principles have been applied by the Commissioner of Income-tax (Appeals) in coming to the conclusion that the assessee was only investing in shares. There has thus been no misapplication of any principle of law so as to warrant interference by this court under section 260A of the Act. Consequently, the appeal is dismissed.
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