2016 (9) TMI 335

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....i for the respondent ORDER P. C. 1. This Appeal under Section 260A of the Income Tax Act, 1961 (the Act) challenges the order dated 11th September, 2013 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order is in respect of Assessment Year 200809. 2. The Revenue has urged following question of law for our consideration : (i) Whether on the facts and in....

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....th August, 2007. The same was converted to demat on 11th December, 2007 and thereafter sold. However, the Assessing Officer in his assessment order dated 10th December, 2010 held that the aforesaid gain in sale of shares in Lok Housing are to be charged to tax as Business Income. This was on the basis of the period of holding of shares in M/s. Lok Housing from the date of it being converted to dem....

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.... the convertible warrants were shown as investments. Further, the CIT(A) records a finding of fact that the respondent assessee is an Investment Company and not a Trader in shares. In the aforesaid circumstances, the order of the Assessing Officer dated 10th December, 2010 was set aside and the amount of Rs. 25.54 lakhs was brought to tax under the Short Term Capital Gains. 5. Being aggrieved, ....