2017 (12) TMI 672

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....earned counsel appearing for the appellant. The challenge in this appeal is to the Judgment and order dated 18th June 2014 passed by the the Income Tax Appellate Tribunal, A Bench, Mumbai (for short "the Appellate Tribunal") which is a common order on the appeals filed by the assessee and the respondent. What was impugned before the Appellate Tribunal was the order of the Commissioner of Income Ta....

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....apital Gains (STCG) in two parts, investment and trade. Rs. 16,62,263/was held as income from business of the appellantassessee. 3 In an appeal preferred by the appellant before the Appellate Tribunal, the order of the first Appellate Authority has been confirmed. The appeal preferred by the respondentrevenue has been dismissed. 4 The learned counsel for the appellant invited our attention t....

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.... the decision of the Appellate Tribunal, the submissions made by the authorised representative of the appellant have been noted. Paragraph 2.3 reads thus: "2.3 Before us, Authorised Representative (AR) stated that in the earlier years on similar facts income from the share trading was taxed under the head STCG, that there was no change in facts and circumstances for the year under appeal,....

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....have been correctly laid down, the Appellate Tribunal considered the facts of the case. It was observed that the number of scrips purchased and sold during the year was 100% more than the last assessment year. It was also observed that in the turnover of purchase value and sale, there is a huge increase from Rs. 2.37 crores to 5.98 crores. It was found as a matter of fact that the assessee earned ....