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TMI Blog2015 (10) TMI 1748X X X X Extracts X X X X X X X X Extracts X X X X ..... udhiana vs. Smt.Pushpa Gupta (2015 (10) TMI 1741 - PUNJAB AND HARYANA HIGH COURT) deciding the issue by holding that the income derived by the assessee was assessable under the head 'Income from business or profession' the appeals have been rendered infructuous and may be disposed of as such. - ITA No. 586 of 2009 (O&M) - - - Dated:- 12-8-2015 - Ajay Kumar Mittal And Ramendra Jain, JJ. For ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome Tax Act, 1961, by the authorities below, as valid without appreciating the trite law in the case of M/s Berger Paints India Limited vs. CIT, 266 ITR 99 (SC) wherein the Apex Court clearly held that in case the department has not challenged one issue in some assessees then it is precluded from taking action in the case of other assessees under similar facts and circumstances while in the pres ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... law? 3. A few facts relevant for the decision of the controversy involved as narrated in the appeal may be noticed. The appellant is an individual. She is engaged in the business of trading of shares, debentures and mutual funds. She has interest income from the business of money lending. She filed return of income for the assessment year 2002-03 on 31.10.2002 declaring total income of ͅ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed as per copy of income tax return, balance sheet, trading and profit and loss account as income from other sources. Against the order passed by the Assessing Officer, the appellant filed appeal before the Commissioner of Income Tax (Appeals) [CIT(A)]. Vide order dated 26.9.2008, Annexure A.2, the CIT(A) treated the income from interest from money lending as business income. However, the CIT(A) u ..... X X X X Extracts X X X X X X X X Extracts X X X X
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