This appeal challenged an ITAT order regarding assessment of income from share sales for A.Y. 2006-07. The court held that the legal issue was identical to a previous dismissed appeal for A.Y. 2005-06 and dismissed the current appeal without entertaining the framed question.
Income Tax Appeal No. 2511 of 2013 dismissed. No order as to costs.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
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18.itxa-2511.13.doc
Sbw
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO.2511 OF 2013
Commissioner of Income Tax-25 ..Appellant
Versus
Dilip V. Variya
..Respondent
Mr. Arvind Pinto for the Appellant. Mr. N. M. Porwal for the Respondent.
CORAM: M. S. SANKLECHA & A. K. MENON, JJ.
DATE : 12th JULY, 2016
P.C.:
Act) challenges the order dated 15th May, 2013 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order is in respect of Assessment Year 2006-07.
“Whether income earned from sale of shares is classifiable as business income or under the head 'capital gains'?”
We find that the impugned order of the Tribunal followed its order in case
2 18.itxa-2511.13.doc
of the same Respondent-Assessee for A.Y. 2005-06. An appeal from that order by the Revenue being Income Tax Appeal No.1088 of 2011 was dismissed by this Court on 9th January, 2013. Mr. Pinto further very fairly states that facts are are identical in this Assessment Year to that existing Assessment Year 2005-06.
rise to any substantial question of law. Thus, not entertained.
wadhwa
1 issue framed by the court
Whether the appellant is entitled to have the question of classification of income from sale of shares as business income or capital gains entertained in this appeal.
1 provisions across 1 enactments
Commissioner of Income Tax-25
Dilip V. Variya
M. S. Sanklecha, A. K. Menon
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
