We have heard Mr. M.R. Bhatt, learned Senior Standing Counsel appearing for the revenue on the following two proposed questions of law :- “[A] Whether the Appellate Tribunal is right in law and on facts in not treating the Short Term Capital Gain of Rs.17,35,041/- and Long Term Capital Gain of Rs.28,63,080/- as business income of the assessee ?
[B] Whether the Appellate Tribunal is right in law and on facts in upholding the order of the CIT (A), and thereby directing the Assessing Officer to treat the short term capital gain and long term capital gain as “capital gain” and not as business income ?”
2. With regard to the same assessee, on the same questions of law, Tax Appeal No.870 of 2010 has been decided on 25.7.2011 by Division Bench of this Court. We agree with the view taken by the Division Bench in Tax Appeal No.870 of 2010 wherein both the questions as raised in this Tax Appeal were considered and were not accepted to raise substantial questions of law. Following the above mentioned Division Bench decision, we find that no question of law, much less, any substantial questions of law arise for the consideration of this Court. Accordingly, we dismiss this Tax Appeal.
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[V. M. SAHAI, J.] Savariya Sd/-
[N. V. ANJARIA, J.]