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2019 (4) TMI 955 - HC - Income TaxLTCG - applicability of Explanation to Section 73 – assessee was of an investor and not of a businessman - activities of buying and selling of shares being speculative in nature - HELD THAT:- The two things immediately emerge from the Judgment of the Tribunal. Firstly the question of nature of assessee's activities of buying and selling of shares being speculative in nature with special reference to Explanation 73 was not an issue at all. We therefore do not permit the Revenue to raise such a contention for first time in this Appeal before the High Court since this issue can at the be considered as one of the facts and law. The second thing which emerges from the Judgment of the Tribunal is that the Tribunal had noted relevant facts applying correct parameters to come to a conclusion that in relation to the shares held by the assessee in excess of one year the intention was to invest in shares and not to engage itself in business of buying and selling the shares - No question of law arise
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