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TMI Blog2015 (2) TMI 949X X X X Extracts X X X X X X X X Extracts X X X X ..... capital gain respectively and not as business income?" 2. The facts show that A.O., in the assessment order dated 16.11.2009 treated the income as business income of the aforesaid respective amounts. In appeal, the Commissioner (Appeals) has allowed the appeal in favour of the Assessee, treating the aforesaid respective amounts as short-term capital gain and long-term capital gain respectively. The Tribunal in the impugned order observed at paragraph 4 as under:- "4. We have considered rival submissions. We find that the issue of taxability of gain arising out of share transaction as short term and long term capital gains and not as business income, is covered in favour of the assessee with the decision of the ITAT, Ahmedabad Bench in as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ome of the shares as business income, whereas CIT (Appeals) treated the income as on investment after considering appropriately the Short Term Capital Gain and Long Term Capital Gain. The Tribunal, in the appeal, by relying upon its earlier decision for the Assessment Year 20052006 taken in ITA No.937/Ahd/2009 dated 15.5.2012 concurred with the view and dismissed the appeal of the revenue. Under the circumstances, the present appeal on the aforesaid substantial question of law. 3. Our attention is drawn by the learned counsel for the appellant to the decision of this Court in Tax Appeal No.71 of 2013 decided on 19.8.2013, wherein earlier decision of the Tribunal in ITA No.937/Ahd/ 2009 which has been relied upon by the Tribunal in the impu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... articularly, when the question is already covered by the above referred decisions of this Court. No case is made out for interference of the order passed by the Tribunal and hence, the appeal is meritless and therefore, dismissed. 5. The fact situation in the present case are same, except for the change in the assessment year and the amounts of short-term capital gain and longterm capital gain. When the principle is the same for giving treatment to the short-term capital gain and long-term capital gain, similar view deserves to be taken. 6. Under these circumstances, we do not find that any substantial questions of law would arise, more particularly when the question is already covered by the earlier decision of this Court. No case is mad ..... X X X X Extracts X X X X X X X X Extracts X X X X
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