Pr. Commissioner Of Income Tax-16 v. B.p.colabawalla, Jj

dik IN THE HIGH COURT OF JUDICATURE AT BOMBAY O.O.C.J. INCOME TAX APPEAL NO. 891 OF 2016 Pr. Commissioner of Income Tax-16...Appellant vsSmt. Mallika M. Madhani ...Respondent. ..... Mr Suresh Kumar for the Appellant. Dr K. Shivram, Sr. Counsel a/w Ms Neelam Jadhav for the Respondent. ..... CORAM : AKIL KURESHI & B.P.COLABAWALLA, JJ. JANUARY 07, 2019. P.C. : 1.The Revenue appeals against the Judgment of I.T.A.Tribunal dated 8[th] April, 2015. The following question has beenpresented for our consideration which reads thus- “Whether on the facts and circumstances of the case the Hon. ITAT is justified intreating income of Rs.2,09,80,137/- earned by trading in shares as income chargeableunder the head Capital gains and not as business income.” 2.The issue pertains to the Assessee's assessment year 2007-08 and revolves around the Revenue's contention that receipt ofthe assessee out of sale of the shares should be taxed as her businessincome. The Tribunal in the impugned judgment confirmed the view ofthe CIT Appeals. By dismissing the Revenue's appeal, the Tribunal Pg 1 of 2 21.itxa.891.2016.doc noted that the Assessee's treatment of sale of shares resulting intocapital gain has been consistently accepted in the preceding andsucceeding assessment years. 3In that view of the matter, we find no error in the view ofthe Tribunal. No question of law arises. Tax Appeal is dismissed. (B.P.COLABAWALLA, J.) (AKIL KURESHI, J. ) Pg 2 of 2