2010 (10) TMI 109

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....is appeal in respect of following questions produced hereinbelow:   1. Whether on facts and in circumstances of the case, the Hon'ble I.T.A.T. was justified in confirming the order of the Commissioner of Incometax (A) directing the Assessing Officer to treat the profit on sale of shares as capital gain instead of income from business as assessed by the Assessing Officer in order u/s.143(3)....

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....s of shares and as per judicial pronouncement contained in 35 ITR 594 (Supreme Court) and 53 ITR -250 (S.C.) income derived by the assessee from purchase and sales of shares in classified under business income and not as capital gain ?   3. Whether on facts and in circumstances of the case, the Hon'ble ITAT was justified in dismissing the appeal of the department without appreciating that ....