2008 (9) TMI 502

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Raviraja Pandian J.- The Revenue on appeal against the order of the Tribunal dated February 6, 2008, by formulating a question of law to the effect that whether on the facts and circumstances of the case, the Tribunal was right in not considering the specific ground raised by the Revenue on the issue of treatment of consideration received for sale of shares classified as current investments, w....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nt investments were also to be treated as investment and not as stock-in-trade, and the loss on the sale of the same shall be assessed as capital loss. (iii) The Revenue, being aggrieved by the order of the Commissioner of Income-tax (Appeals), filed an appeal before the Income-tax Appellate Tribunal. The Tribunal, by the order impugned has decided the issue in favour of the assessee." 3. On....