1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY, NAGPUR BENCH, NAGPUR INCOME TAX APPEAL NO.84 OF 2010 (The Commissioner of Income Tax-I, Nagpur ..vs.. Shri Rajendra Seth (HUF), Nagpur) ------------------------------------------------------------------------------------------------------------------------------- Office Notes, Office Memoranda of Coram, appearances, Court's orders Court's or Judge's order of directions and Registrar's orders ------------------------------------------------------------------------------------------------------------------------------------ Shri A.S. Jaiswal, Advocate for the appellant, Shri N.S. Bhattad, Advocate for the respondent. CORAM:- J.P. DEVADHAR AND A.B. CHAUDHARI, JJ. DATED :- 28 th OCTOBER, 2010 The respondent-assessee carrying on the business of dealing in shares, had claimed to have purchased 12000 shares of Amluckie Investment Ltd. as investment and claimed that the gains arising on sale of those shares as long term capital gains. The question was, whether the shares of Amluckie Investment Ltd. were held by the assessee as investment or stock in trade. The Tribunal on the basis of the material on record held that the shares were purchased by the assessee as investment and the gains arising on sale of those shares were liable to be taxed as capital gains. The finding of fact recorded by the Tribunal does not give rise to any question of law. Accordingly, the Income Tax Appeal is dismissed. No order as to costs. JUDGE JUDGE pma