2015 (1) TMI 1294

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....dvocates.     O R D E R 30.01.2015   The Revenue appeals to this Court under Section 260A of the Income Tax Act, 1961 urging that the ITAT fell into error in holding that the sum of Rs. 1,19,30,037/-, held by the Income Tax Appellate Tribunal (hereafter referred to as 'ITAT' ) to be short term capital gain, is in fact business income. The brief facts are that the....

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....erived on account of liquidation of investments, stood satisfied. In similar circumstances, in Commissioner of Income Tax v. Devasan Investments Pvt. Ltd. (ITA 1102 and 1103/2011, decided on 16.04.2014) and other decisions, this Court has held that there cannot be a single factor or criterion to determine whether income falls under the head of short term capital gain or of business income. The ITA....