In the result, the assessee’s appeal is dismissed, and the Revenue’s appeal is partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora & Shri Manomohan Dasp.C. Jose Deputy Commissioner Of Prop. Brothers Agencies Income Tax, Circle-2(1) Jews Street Vs. Kochi Ernakulam 682031 [Pan: Abbpj8250F] (Appellant) (Respondent) Deputy Commissioner Of P.C. Jose Income Tax, Circle-2(1) Prop. Brothers Agencies Kochi Vs. Jews Street Ernakulam 682031 [Pan: Abbpj8250F] (Appellant) (Respondent)

short term capital gains has been included in the total income, even though the same has been considered as business income. The assessing officer has not brought out any evidence to establish that the appellant is a dealer in real estate. The claim of the appellant that the activities with regard to the transactions in real estate cannot be considered