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Income Tax Appellate Tribunal, “G” Bench, Mumbai
Before: Shri B.R. Baskaran (AM)& Pawan Singh (JM)
The appeal filed by the assessee is directed against the order dated 12.12.2012 passed by learned CIT(A)-32, Mumbai and it relates to A.Y. 2008- 09.
None appeared on behalf of the assessee even though notice of hearing was sent by registered post on more than one occasion. Hence we proceed to dispose of the appeal ex-parte, without presence of the assessee.
The assessee is contesting the decision of learned CIT(A) in confirming the assessment of short term capital gains arising on sale of shares as business income.
We have heard learned Departmental Representative and perused the record. We noticed that learned CIT(A) has passed a reasoned order meeting all the arguments put by the assessee. Further the assessee has not furnished
2 Gaurang D. Damani any material before us to contradict the findings given by learned CIT(A). Under these circumstances, we do not find any reason to interfere the order passed by learned CIT(A).
In the result, appeal filed by the assessee is dismissed.
Order has been pronounced in the Court on 25.7.2016