TMI Blog2016 (10) TMI 978X X X X Extracts X X X X X X X X Extracts X X X X ..... respondent assessee is its business activity. This on account of its activity of money lending being in accordance with the object clause of the company, duly supported by the Resolution of its Board of Directors and on examination of entries made in the books of accounts as well as in the bank statement. This findings of fact by the CIT(A) and the Tribunal, are not shown to be perverse and / or a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ead Profits and Gains from Business Profession instead of Income from Other Sources as held by the Assessing Officer without appreciating that the assessee is not an NBFC and hence giving loans and advances to other parties, cannot be considered as business activity . 3. The respondent assessee is engaged in the business of investment and trading. During the subject assessment year, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t assessee was engaged in the business of money lending in an organized and a systematic manner. It rendered a finding that the activity of money lending is a real and substantive activity on the part of the respondent assessee with a profit motive. Thus, the order dated 16th March, 2012 of the CIT(A) allowed the appeal. 5. Being aggrieved, the Revenue carried the issue in an appeal to the Trib ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ies made in the books of accounts as well as in the bank statement. This findings of fact by the CIT(A) and the Tribunal, are not shown to be perverse and / or arbitrary in any manner. The view taken is a possible view. Therefore, no substantial question of law arises for our consideration. Thus, not entertained. 7. Accordingly, the appeal is dismissed. No order as to costs. - - TaxTMI - TM ..... X X X X Extracts X X X X X X X X Extracts X X X X
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