TMI Blog2022 (12) TMI 113X X X X Extracts X X X X X X X X Extracts X X X X ..... ioned separately, one under the head stock-in-trade and the other under the head current investments . As examined the details of the shares held by the assessee as investment and stock-in-trade. During the year, we do not find any change of facts and circumstances over the preceding or succeeding financial years and, therefore, in our considered opinion/view, the revenue cannot be allowed to disturb the position which has been accepted by the revenue in the case of the assessee in the earlier and subsequent years. Thus respectfully following the decision of Radhasoami Satsang [ 1991 (11) TMI 2 - SUPREME COURT] we set aside the order of the ld. CIT(A) and direct the Assessing Officer to treat the sum as Short Term Capital Gain - Appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee has also maintained another trading portfolio, income wherefrom has been shown as income from business. The Assessing Officer accordingly prepared a table of name of the scrips, shares held and the period of holding at para 6 of the assessment order and called upon the assessee to explain as to why the STCG should not be treated as business income for the reasons that the assessee has held these shares for a very short period and the frequency of transactions were also very high, which was replied to by the assessee by submitting that the assessee is maintaining two portfolios from the preceding sever financial years. One is a trading portfolio and the second is an investment portfolio and both of them are being treated and sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat at the time of making the transactions of purchase and sale , the intention of the assessee as to which share has to be held as stock-in-trade and which to be treated as investment portfolio is not clear. 5. The ld. D/R relied on the orders of the authorities below. 6. We have heard rival submissions and perused the material available on record During the course of hearing, the ld. A/R placed before us a comparative chart from Assessment Year 2011-12 to 2015-16, substantiating his averments that right from the beginning he has been maintaining two portfolios. After examination of the said chart, we find that in two Assessment Year i.e., Assessment Year 2012-13 2015-16, which means a preceding Assessment Year and the succeeding A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3,45,36,127.00 8,45,000.00 -50,40,187.00 21,59,789.00 54,05,766.00 1,59,53,119.00 10,95,327.00 143(1) 4 31.03.2014 2014-15 2,01,46,000.00 1,48,48,147.00 3,49,94,147.00 9,47,417.00 78,134.00 -6,49,120.00 7,07,185.00 - 2,24,40,187.00 1,08,92,705.00 143(3) 5 31.03.2015 2015-16 2,01,46,000.00 2,39,43,271.00 4, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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