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2017 (12) TMI 653 - AT - Income TaxTreatment of the transaction of purchase and sale of shares - capital gains or business income - CIT(A) erred in treating the Short Term Capital Gain as Business Income - Held that:- We find that the ld. Commissioner of Income Tax (Appeals) has duly followed the ITAT decision in the assessee’s own case which is in appeal before the Hon'ble jurisdictional High Court. As rightly pointed out by the ld. Departmental Representative, the ld. Commissioner of Income Tax (Appeals) has correctly followed the ITAT order with respect to the short term capital gain shown by the assessee and has already granted relief in respect of the long term capital gain, the facts about which were different. Accordingly, we do not find any infirmity in the order of the ld. Commissioner of Income Tax (Appeals). Accordingly, we uphold the same.- Decided against assessee
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