2019 (4) TMI 1318

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..... rlier assessment years the assessee had consistently shown the receipts of sale of share as capital gain which the revenue had also accepted. The tribunal had noted that in the earlier years the assessee had suffered loss. Therefore in the current year if the income was to be treated as business income, capital loss of the earlier year would not be assessable against such income. It appears tha .....

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..... No.264/17. 2. These Appeals filed by the Revenue to challenge the judgment of Income Tax Appellate Tribunal, relate to assessment year 2008 2009. Following question is presented for our consideration; Whether on the facts and in the circumstances of the case and in law, the Hon'ble ITAT erred in deleting the disallowance made by the A.O. of STCG amounting to &# .....

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..... venue had also accepted. 3. We do not find any error in view of tribunal. The tribunal had noted that in the earlier years the assessee had suffered loss. Therefore in the current year if the income was to be treated as business income, capital loss of the earlier year would not be assessable against such income. It appears that the Assessing Officer desired to tax income as busin .....

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