2012 (7) TMI 157

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....ppeal by the Revenue under Section 260A of the Income Tax Act (hereinafter referred to as the "said Act") is from the Order dated 10/11/2010 of the Income Tax Appellate Tribunal (hereinafter referred to as the Tribunal) relates to Assessment Year 2006-07 (previous year ending 31/3/2006). Being aggrieved by the Order dated 10/11/2010, the appellant has formulated the following questions of law for ....

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.... Assessee himself has shown speculation loss Rs. 13,483/- in share trading business? 2) The respondent is engaged in textile business. By an order dated 23/12/2008 passed under Section 143(3) of the said Act the Assessing officer took a view that the respondent was not an investor in shares but dealer in shares and therefore, rejected the claim of the respondent for being taxed under the head c....

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....al. On 10/11/2010 the Tribunal after examining the evidence upheld the order of CIT(A) and concluded that the respondent was an investor in shares and entitled to be taxed under the head capital gains in respect of purchase and sale of shares. The Tribunal after examining the facts found that the respondent had not borrowed any funds for its investments and that the long terms gains were attributa....