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

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1488 OF 2012 The Commissioner of Income Tax-25.v.Suresh Kumar Seksaria. ..Appellant. ..Respondent. Mr. Tejveer Singh for the Appellant.Mr. Jignesh Shah for the Respondent. CORAM : J.P. DEVADHAR AND M.S. SANKLECHA, JJ. DATE : 18TH DECEMBER, 2012 PC: The question of law raised by the revenue in this appeal read thus: a)Whether in the facts and circumstances of the case and in law the ITAT is right in directing to allow the claim of the assessee in connection with treating the transaction in the shares done by the assessee as capital gain instead of business income u/s. 28 of the Income Tax Act, 1961? 2) The Tribunal has allowed the claim of the assessee by following the Judgment of this Court in assessee's own case being ITXAL No.1342/2010 dated 1/3/2011. 3) In this view of the matter, we see no reason to entertain the appeal. The appeal is, accordingly, dismissed with no order as to costs. (M.S.SANKELCHA, J.) (J.P. DEVADHAR, J.)