The Commissioner Of Income Tax-I… v. M/S.v.t. Real Estate Pvt. Ltd.…

bsb IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 1555 OF 2011 The Commissioner of Income Tax-I… Appellant v/s M/s.V.T. Real Estate Pvt. Ltd.… Respondent Mr.Vimal Gupta, senior counsel i/by Vipul Arun Bajpayee for the appellant. CORAM: S.C. DHARMADHIKARI & G.S. KULKARNI, JJ. DATED : 19TH MARCH, 2014 P. C. : 1Heard Mr.Gupta, learned senior counsel appearing on behalf of the appellant. Perused the order passed by the Commissioner of Income Tax (Appeals) and of the Income Tax Appellate Tribunal. 2The Commissioner of Income Tax (Appeals) as also the Income Tax Appellate Tribunal found that the shares were traded as investment, they were disclosed and, therefore, the proceeds were treated as long term capital gain and not a business income. That is the finding of fact rendered consistent with the material produced. In such circumstances and when the question was of the assessee's intent, we find that no substantial question of law arises for determination and consideration. The appeal is devoid of any merits and is, therefore, dismissed. (G.S. KULKARNI, J.) (S.C.DHARMADHIKARI, J.)