1 itxal594-07 agk IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (L) NO.594 OF 2007 The Commissioner of Income Tax, Central - I, Mumbai ..Appellant. Versus M/s.Imfa Holdings Private Limited ..Respondent. Mr.Vimal Gupta for the appellant. Mr.Mandar Vaidya i/by Roy's Law firm for the respondent. CORAM : J.P. Devadhar & Smt.R.S. Dalvi, JJ. DATE : 5th April, 2011. P.C. : 1. Not on board. Taken up for admission by consent of both the parties. 2. The question raised in this appeal is; whether the purchase of shares of M/s.Herberstons Limited by the assessee was in the nature of investment or stock-in-trade. The Tribunal has recorded a finding of fact that although ordinarily the shares were purchased as investment, in the present case, the purchase of shares was on trading account and the loss incurred on account of sale of said shares was trading loss, eligible for set off against the income in the assessment year in question. The finding recorded by the Tribunal is a finding of fact. No substantial question of law arises in this appeal. The appeal is accordingly dismissed with no order as to costs. (Smt.R.S. Dalvi, J.) (J.P. Devadhar, J.)