Commissioner Of Income Tax,Chennai v. Shri N.f.dadabhoy

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 10.8.2015 CORAM : THE HONOURABLE MR.JUSTICE V.RAMASUBRAMANIANANDTHE HONOURABLE MR.JUSTICE T.MATHIVANAN Tax Case Appeal Nos.422 and 444 of 2015 Commissioner of Income Tax,Chennai. ...Appellant in both appeals Vs Shri N.F.Dadabhoy ...Respondent in TCA.422/15F.L.Dadabhoy ...Respondent in TCA.444/15 APPEALS under Section 260A of the Income Tax Act against theorders dated 12.12.2014 respectively in I.T.A.Nos.1186/Mds/2014 and1187/Mds/ 2014 on the file of the Income Tax Appellate Tribunal, "A"Bench, Chennai. Against the Order of the Commissioner of Income Tax(Appeals)VI,Chennai-34, dated 31.01.2014 made in ITA.Nos.1236/13-14/A-VI and1234/13-14 and against the Assistant Commissioner of Income Tax,Company Circle IV(3), Chennai dated 31.10.11, made in PANNos.AAAPD4349P & AAAPD4332J respectively for the Assessment Year2005-06. For Appellant in both the appeals : Mr.J.Narayanasamy COMMON JUDGMENT (Judgment was delivered by V.RAMASUBRAMANIAN,J) The Revenue has come up with the above appeals as against theorders of the Income Tax Appellate Tribunal, holding that thepurchase and sale of shares by the assessee could not be treated asbusiness income. 2. Heard Mr.J.Narayanasamy, learned Standing Counsel for theDepartment. 3. The very same question of law that is raised in these appealsagainst the very same assessee in respect of the assessment year2006-2007 was dismissed by this Court on 29.10.2014 in T.C.A.No.810of 2014. 4. Therefore, following the same, these appeals are alsodismissed. Sd/- Assistant Registrar(CS III) //True Copy// Sub Assistant RegistrarTo1.The Income Tax Appellate Tribunal, A Bench, Chennai.2.The Commissioner of Income Tax(Appeals)VI, Chennai - 34.3.Assistant Commissioner of Income Tax, Company Circle IV(3), Chennai.+2cc's to Mr.J.Narayanasamy, Advocate, S.R.No.41282 & 41283TCA.Nos.422 & 444 of 2015CA(CO)CA(04/09/2015)