2014 (7) TMI 1177

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....For the Petitioner : M. P. Rastogi, K. N. Ahuja For the Respondent : Kamal Sawhney ORDER Exemption allowed, subject to all just exceptions. Applications stand disposed of. ITA 300/2014, 301/2014, 302/2014 and 304/2014 We have heard the learned counsel for the appellant in these appeals which pertain to the assessment years 2005-06, 2006-07, 2007-08 and 2008-09. In respect of a....

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....-06 is concerned, it is noticeable that the assessee in the preceeding year was holding shares of 14 companies as stock in trade. The appellant-assessee had submitted and claimed that these shares held as stock in trade were transferred to investment account on 01.04.2004 at cost price. The Tribunal in the impugned order has noticed that shares of one such company transferred to investment account....

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....se were conducted; the findings of the authorities and the Tribunal that the assessee was the trader in the said shares does not justify or require any interference. The said finding is purely on facts and is not perverse. Similarly in assessment year 2006-07, Commissioner of Income Tax (Appeals) had gone into the details of the number of shares held by the appellant-assessee during the year. H....

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.... The Tribunal has rightly observed that the assessee had invested in shares of Dabur Group and had earned dividend income on the said shares. Share of Dabur Group cannot be equated with the shares in question. Keeping in view the factual findings recorded by the authorities and the Tribunal in respect of assessment years 2005-06 and 2006-07, we do not see any reason to interfere. Learned counse....