COMMISSIONER OF INCOME TAX Vs. NITA MADHU PATEL

JUDGEMENT

(1.) IN the present appeal, Revenue has formulated various questions, but we find that only Question No. A can be canvassed for consideration and the same reads as under: - -

(2.) THE facts show that A.O., in the assessment order dated 16.11.2009 treated the income as business income of the aforesaid respective amounts. In appeal, the Commissioner (Appeals) has allowed the appeal in favour of the Assessee, treating the aforesaid respective amounts as short -term capital gain and long -term capital gain respectively. The Tribunal in the impugned order observed at paragraph 4 as under: - -

(3.) WE have heard Mr. Mehta, learned Counsel appearing for the appellant. We may record that similar question against the same Assessee was raised in respect of the assessment year 2006 -07 in Tax Appeal No. 22 of 2015 and this Court, vide order dated 16.1.2015, passed the following order: - -