IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH. I.T.A. No.666 of 2010 Date of decision: 13.12.2010 Commissioner of Income Tax. -----Appellant. Vs. M/s Punjab Agro Industries Corporation Ltd. -----Respondent CORAM:- HON'BLE MR. JUSTICE ADARSH KUMAR GOEL HON'BLE MR. JUSTICE AJAY KUMAR MITTAL Present:- Ms. Urvashi Dhugga, Standing counsel for the Revenue. --- ADARSH KUMAR GOEL, J. 1. This appeal has been preferred by the revenue under Section 260-A of the Income Tax Act, 1961 (for short, “the Act”) against the order of the Income Tax Appellate Tribunal, Chandigarh dated 31.12.2009 in I.T.A. No.874/Chandi/2009 proposing to raise following substantial questions of law:- “(i) Whether on the facts, and in the circumstances of the case and in law, the Hon’ble ITAT was correct in holding that the sale of shares by the assessee was a capital gain and not profit and gain from business. (ii) Whether on the facts, and in the circumstances of the case and in law, the Hon’ble ITAT was correct in directing the department to follow the principal cannot depart from the accepted position in the earlier years.” I.T.A. No.666 of 2010 2. Learned counsel for the revenue fairly states that the matter is covered against the revenue by order of this Court dated 30.9.2010 in I.T.R. No.20 of 2000 The Punjab State Industrial Development Corporation Ltd., Chandigarh v. CIT. 3. Accordingly, the appeal is dismissed. (ADARSH KUMAR GOEL) JUDGE December 13, 2010 ( AJAY KUMAR MITTAL ) ashwani JUDGE 2