2016 (7) TMI 53

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.... 1. This Appeal under Section 260A of the Income Tax Act, 1961 (the Act) challenges the order dated 30th January, 2013 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order is in respect of Assessment Year 2009-10. 2. The Revenue has urged the following questions of law for our consideration : "(i) Whether, on the facts and in the circumstances of the case and....

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.... respondent-assessee revised its computation of income (without having filed Revised Return of Income) contending that the profit/loss on account of dealing in shares would be classifiable as business income and not as short term capital gain/loss. The Assessing Officer did not accept the same as the same was not supported by a Revised Return of Income. 4. In first appeal before the Commissione....

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.... the issue had been raised before the Appellate Authorities. 7. We find that the impugned order of the Tribunal has followed the decision of this Court in Pruthvi Brokers and Shareholders Pvt. Ltd. (supra). Mr. Malhotra, the learned counsel, appearing for the Revenue is unable to point out any distinguishing features in the present facts which were warrant us taking a different view from that t....