1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (L) NO.831 OF 2010 The Commissioner of Income Tax-3 Mumbai ..... Appellants V/s. Metmin Finance and Holdings Pvt. Ltd., ..... Respondents ---- Mr.Vimal Gupta for the appellants. None for the respondents. ---- CORAM : J.P.DEVADHAR & MRS.MRIDULA BHATKAR, JJ. DATE : 24/1/ 2011 P.C. 1. Objections waived. Taken up for admission. The question raised in this Appeal is "whether Tribunal was justified in allowing a set off of speculation of loss for the A.Y. 2002-2003 against the business profit for A.Y. 2003-2004 being A.Y. In question in the appeal. 2 The finding of fact recorded by the Tribunal in paragraph-5 of the judgment is that the transactions entered into by the assessee for the A.Y. 2002-2003 as well as A.Y. 2003-2004 are similar and therefore, once the 2 loss incurred in the A.Y. 2002-2003 is accepted as speculation loss, then the profits earned during A.Y. 2003-2004 from similar transactions would have to be considered as speculation profits. In this view of the matter, the decision of the Tribunal that the profits earned in A.Y. 2003-2004 are not business profits but speculation profits is based on finding of fact. No question of law arises from the decision of the Tribunal. Appeal is dismissed. (MRS.MRIDULA BHATKAR,J) (J.P.DEVADHAR,J)