2018 (8) TMI 2111

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....RDER PER G.S. PANNU, AM The captioned appeal filed by the Revenue pertaining to Assessment Year 2010-11 is directed against an order passed by CIT(A)-58, Mumbai dated 26.05.2016, which in turn arises out of an order passed by the Assessing Officer under Section 144C(3) r.w.s. 143(3) of the Income Tax Act, 1961 (in short 'the Act') dated 26.05.2014. 2. In this appeal, Revenue has raised th....

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....Switzerland, the income of assessee from trading in security as FII being similar to the investment activities carried by the branch of assessee in India, was also liable to be taxed as business income. 3. The Appellant prays that the order of the CIT(A) be set aside on the above ground(s) and of the Assessing Officer be restored." 3. It was a common point between the parties that the issues....

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....fee and fee for technical services for such services. The substantive dispute relates to characterisation of income earned by the assessee from sale and purchase of securities in India. As per the assessee, such income was in the nature of Short Term Capital Gain and was not taxable in India on the strength of Article 13(6) of IndiaSwitzerland Tax Treaty. On the contrary, the stand of the Assessin....

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....upra) held that the gain arising through transactions in debt securities was in the nature of capital gain and not a business income, as computed by the Assessing Officer. The CIT(A) also noted that for Assessment Year 2011-12 also, the Dispute Resolution Panel had decided the issue in favour of the assessee by placing reliance on the order of Tribunal for Assessment Year 2008-09 dated 17.04.2015 ....