2010 (10) TMI 109

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..... e balance sheet separately as investments - income is capital gains. - 631 of 2007 - - - Dated:- 28-10-2010 - Ferdino Inacio Rebello, Amreshwar Pratap Sahi,JJ. Heard learned counsel for the appellant revenue department. The department has preferred this appeal in respect of following questions produced hereinbelow: 1. Whether on facts and in circumstances of the case, the Hon'ble I. .....

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..... s as capital gain instead of income from business as assessed by the Assessing Officer in order u/s.143(3)/147 of the Incometax Act, 1961 ignoring the fact that the assessee was share broker and the main business of the assessee was purchase and sales of shares and as per judicial pronouncement contained in 35 ITR 594 (Supreme Court) and 53 ITR -250 (S.C.) income derived by the assessee from purch .....

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