2019 (5) TMI 196

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....ppeal ITA No. 314 of 2009, Commissioner of Income Tax, Central- II, Kolkata Versus Churamani Housing Private Limited, the questions of law to be answered by the Court were identical. They were as follows : i. Whether on the facts and circumstances as recorded by the learned Tribunal the assessee can be treated to be a dealer in shares or investor in shares ? ii. Consequently whet....

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....y a question of fact. That question has been decided by both the CIT(A) and the learned Tribunal by holding that the assessee is an investor. That finding has now become final. We cannot interfere with the finding. Therefore, the questions formulated do not really arise for determination so far the aforesaid finding is not disturbed. In that view of the matter, we need not answer any of the questi....

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....see was an investor and that the gain made out of shares and transaction was a longterm capital gain. What the assessee had to prove before the lower adjudication authorities was that it continued to be an investor in the subject assessment year 2006- 2007 and continued to make capital gains in the manner it did in the assessment year 2005-2006. We regret to note that this finding of fact ha....