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2017 (2) TMI 459 - HC - Income TaxGains from the purchase and sale of shares and mutual funds - Long Term Capital Gains OR Business income - Held that:- In view of the fact that the Revenue has been consistently taking a view that the income earned on investments is taxable under the head capital gains no difference in facts and /or in law has been pointed out to take a different view for the subject Assessment Year. Moreover, the entire question of the nature of activity carried out by the respondent-assessee i.e. business or investment is a question of fact. Both the CIT(A) as well as the Tribunal have concurrently come to a finding of fact that the income earned on the investment portfolio is chargeable under the head capital gains and not under the head 'profits from trading of shares' which is not shown to be perverse. No substantial question of law.
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