2015 (10) TMI 1741

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.... S.K.Mukhi, Advocate for the respondent JUDGEMENT Ajay Kumar Mittal,J. 1. This order shall dispose of ITA Nos.188, 533 and 534 of 2009 as the issue involved in all the three appeals is identical. However, the facts are being extracted from ITA No.188 of 2009. 2. ITA No.188 of 2009 has been preferred by the revenue under Section 260A of the Income Tax Act, 1961 (in short, "the Act") aga....

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....sessee is an individual. She filed her return of income on 15.10.2004 declaring Income of Rs. 2,69,354/-. The assessee derives income from profit from sale and purchase of shares and interest. In the audit report in para B Column 8(a), the nature of the business has been mentioned as trading of shares, debentures and mutual funds etc. and money lending. The assessee adjusted the B/F losses relatin....

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....ward business losses with profit from money lending business of the assessee considering that the income from interest under the head 'Income from business or profession'. Not satisfied with the order, the department went in appeal before the Tribunal. Vide order dated 31.7.2008, Annexure A.3, the Tribunal dismissed the appeal. Hence the instant appeals by the revenue. 4. We have heard ....