In Commissioner Of Income Tax-Iii v. Premjyot Bunglow....opponent(S, the High Court (2012) dismissed the appeal. The decision went in favour of the assessee.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
O/TAXAP/77/2010 ORDER
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX APPEAL No 77 of 2010
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COMMISSIONER OF INCOME TAX-III....Appellant(s) Versus PREMJYOT BUNGLOW....Opponent(s)
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Appearance:
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CORAM: HONOURABLE MR.JUSTICE AKIL KURESHIandHONOURABLE MS JUSTICE SONIA GOKANI
Date : 13/06/2011
ORAL ORDER (PER : HONOURABLE MR.JUSTICE AKIL KURESHI)
Tax appeal is admitted for consideration of following question of law :
“Whether the Appellate Tribunal is right in law and on facts in confirming the order passed by CIT(A) in directing to tax the income earned from trading in shares under the head 'LTCG/STCG' as shown by the assessee instead of taxing it under the head 'Income From Business & Profession'?”
(Akil Kureshi,J.)
(raghu)
(Ms. Sonia Gokani,J.)
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