Nature of profit from sale of shares depends on intention of acquisition of shares irrespective of its treatment in books

IN THE ITAT DELHI BENCH ‘E’ Assistant Commissioner of Income-tax, Circle-31(1), New Delhi versus Manoj Kumar Samdaria IT APPEAL NO.1262 (DELHI) OF 2012 [ASSESSMENT YEAR 2007-08] OCTOBER 5, 2012 ORDER A.N. Pahuja, Accountant Member   This appeal filed on 14.03.2012 by the Revenue against an order dated 15th December, 2011 of the ld. CIT(A)-XXVI, New Delhi, raises the following grounds:- “1.  Whether in the facts and circumstances of the case, CIT(A) was justified in treating the income of Rs. 65,45,321/- from sale purchase of shares as income from short term...