2019 (4) TMI 975

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..... Revenue has filed these appeals to challenge a common judgment of the Income Tax Appellate Tribunal ("the Tribunal" for short). 2. Following question is presented for our consideration:- "Whether on the facts and the circumstances of the case and as per law, the Tribunal has erred in directing the Assessing Officer to treat the income from transaction of shares which were held by the assessee .....

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..... partment as well as by the assessee, the Tribunal rendered the impugned judgment. The Tribunal allowed the assessee's appeals and dismissed the Revenue's appeals. Thereupon the present appeals have been filed by the Revenue questioning only the decision of the Tribunal in so far as the assesse's appeals have been allowed. 5. We have heard the learned counsel for the parties and perus .....

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..... s. No single factor would decide the answer to the said question. In the present case, the Tribunal has taken into account all relevant facts. The significant factors as noted above are that the assessee was a professional, that no borrowed funds were used for purchase of shares, no interest inter alia was paid, the shares were shown in the balance sheet as investment and in all cases other than t .....

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