2011 (8) TMI 1201

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....Maurya O R D E R Per R.S.Syal, AM : This appeal by the assessee arises out of the order passed by the Commissioner of Income-tax (Appeals) on 02.12.2009 in relation to the assessment year 2006-2007. 2. The only issue raised in this appeal through two grounds is that the learned CIT(A) was not justified in holding that the excess amount realized on the investment in shares made through ....

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....The learned CIT(A) echoed the assessment order on this issue. 3. We have heard the rival submissions and perused the relevant material on record. The question whether the income earned through PMS should be considered as business income or capital gain has recently came up for adjudication before the Mumbai Bench of the Tribunal in ITO Vs. Radha Birju Patel. Vide order dated 30.11.2010 in ITA N....