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INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH)
M. BALAGANESH, A. M.
Praveen Ranjan Sinha – Appellant
Versus
DCIT – Respondent
| Table of Content |
|---|
| 1. case introduction and appeal details. (Para 1) |
| 2. grounds for appeal raised by the assessee. (Para 2) |
| 3. assessee's income and transactions analyzed. (Para 3 , 4 , 5) |
| 4. observations on assessments and conclusions drawn. (Para 6 , 7 , 8) |
| 5. arguments presented by both parties. (Para 9 , 10) |
| 6. court's observations and reasoning on trading vs. investing aspect. (Para 11 , 12 , 13) |
ORDER
PER M. BALAGANESH, A. M.:
1. The appeal in ITA No.399/Del/2024 for AY 2015-16, arises out of the order of the National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as „ld. CIT(A)‟, in short] in Appeal No. DIN & Order No: ITBA/NFAC/S/250/2023- 24/1059847201(1) dated 28.12.2017 against the order of assessment passed u/s 143(3) of the Income-tax Act, 1961 (hereinafter referred to as „the Act‟) dated 28.12.2017 by the Assessing Officer, DCIT, Circle-3, Gurgaon (hereinafter referred to as „ld. AO‟).
2. The assessee has raised the following grounds of appeals before us:- “1. The Ld. CIT(A) has grossly erred on facts and in law in passing the cryptic order u/s 250 of the Income Tax Act, 1961 and holding that "the disallowance of the AO on account of short-term capital gain wo
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