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2015 (9) TMI 970 - BOMBAY HIGH COURTGains from Share Transactions - Short Term Capital Gain OR Business Income - Held that:- On examination of all the facts it has inter alia come to the conclusion that the activities carried out by the respondent assessee cannot be classified under the head 'business income' but more appropriately as claimed by the respondent assessee under the head 'short term capital gains'. This is particularly so on application of CBDT circular. This finding of fact by the CIT (A) has been upheld on examination by the Tribunal. In view of the concurrent finding of fact arrived at by the CIT (A) and the Tribunal, according to us, no substantial question of law would arise to warrant admission of the question as proposed. It is to be noted that even according to the Revenue, there can be difference of opinion on the appreciation of facts. If that be so, the CIT (A) and the Tribunal has taken a particular view which is not shown to be perverse or arbitrary in the context of the facts. The view taken is a possible view on the facts and therefore, calls for no interference. Thus we see no reason to entertain the question as proposed. - Decided against revenue.
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