2013 (9) TMI 1137

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.... PER: VIJAY PAL RAO, JM This appeal by the Revenue is directed against the order dated 14.10.2010 of Commissioner of Income Tax(Appeals) for the assessment year 2007-08. 2. The Revenue has raised the following effective ground: "a. On the facts and in the circumstances of the case and in Law, whether the Ld. CIT(A) was justified in treating the income from sale of shares of Rs. 23,36,824....

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....essment year 2008-09 the AO has accepted the claim of the assessee regarding short term capital gain. The Ld. AR has relied upon the decision dated 23.8.2013 of this Tribunal in case of assessee's wife Smt. Varsha J. Ashar in ITA No. 953/2011 and submitted that an identical issue has been decided by the Tribunal in favour of the assessee. The Ld. DR has however, relied upon the order of the Assess....

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..... Varsha J. Ashar (supra) (the wife of the assessee) has considered and decided an identical issue in para 3 as under: "3. After considering the rival submissions and perusing the relevant material on record, it is observed that the learned CIT(A) has recorded a categorical finding on page 12 of the impugned order that in the earlier years such profit on short term capital asset was treated as ....