SUPREME COURT OF INDIA
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SPECIAL LEAVE TO APPEAL (C) NO. 17247 & 17946 OF 2014
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Commissioner of Income-tax - IV..........................................Appellant.
v.
Devasan Investment (P.) Ltd.
...........................................Respondent |
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RANJAN GOGOI AND ROHINTON FALI NARIMAN, JJ.
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| Date :NOVEMBER 7, 2014 |
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| Appearances |
Ranjit Kumar, SC, Rahul Kaushik, Adv. Mrs. Gargi Khanna, Adv. and Mrs. Anil Katiyar, Adv. for the Petitioner.
Vivek Bansal, Adv. and Ms. Kavita Jha, Adv.,for the Respondent.
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Section 45 read with section 28(i) of the Income Tax Act, 1961 — Nature of Income — Capital gains or business income — Assessee company made investment in shares with an objective of capital appreciation having infrequent handful of transactions and also earned dividend, thus profit from sale and purchase of shares was to be treated as capital gains — Commissioner of Income Tax v. Devasan Investment (P ) Ltd.
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ORDER
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1. Heard learned Counsel for the petitioner and perused the relevant material.
2. Delay condoned.
3. We do not find any legal and valid ground for interference. The Special Leave Petitions are dismissed.
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[2015] 229 TAXMAN 496 (SC) |
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