2015 (11) TMI 73

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....hul Chaudhary, Adv with Mr. Ruchir Bhatia, Adv ORDER 1. These appeals by the Appellant Assessee under Section 260A of the Income Tax Act ("Act") are directed against a common order dated 13th January 2015 passed by the Income Tax Appellate Tribunal ("ITAT") in ITA Nos. 895/Del/2000, 6806/Del/2010 and 4946/Del/2011 for the Assessment Years ("AYs") 2006-07, 2007-08 and 2008-09 respectively. 2. Th....

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....d AYs. The AO was of the view that the income earned from the sale of shares and mutual funds was business income on account of the large number of scrips in which the Assessee had dealt with and the frequency of the transactions. 5. The CIT (A), after seeking a remand report from the AO, accepted the plea of the Assessee that in some of the instances, even though the volumes were heavy, the peri....

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....f the CIT (A), the ITAT directed the CIT (A) to re-examine the three AYs independently as the entire facts in one year may not be available in another year. 7. Having heard learned counsel for the parties, the Court finds merit in the contention of learned Senior counsel for Assessee that the ITAT appears to have prejudged the issue whether the Assessee was also a trader in shares apart from bein....