The Commissioner Of Income Tax -25 v. Suresh Kumar Seksaria

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTIONI.T.X.A.L.1342/2010 The Commissioner of Income Tax -25Vs.Suresh Kumar Seksaria AppellantRespondent Ms.Suchitra Kamble for appellantMr.Jignesh R.Shah with Mr.P.C.Tripathi for respondent P.C. CORAM- J.P.DEVADHAR ,AND MRS.MRIDULA BHATKAR,JJ.DATE -1[st] March,2011 .Whether the I.T.A.T.was justified in holding that the assessee was an investor and accordingly directing the Assessing Officer to assess the profits on sale of delivery based shares as long term capital gain is the question raised in this appeal. 2 The Tribunal in paragraph -6 of its order has recorded a finding of fact that the assessee is trading in shares and also making investments for which separate accounts have been maintained. The Tribunal has further recorded a finding of fact that the shares sold in the year in question were acquired in the earlier years in which they have already been accepted as investment . 2 3In this view of the matter the finding recorded by the Tribunal is a finding of fact. No question of law arises. Hence the appeal is dismissed. No costs. (MRS.MRIDULA BHATKAR,J.) (J.P.DEVADHAR,J.)