IN THE INCOME TAX APPELLATE TRIBUNAL,
                       MUMBAI BENCH "G", MUMBAI

         BEFORE SHRI R.C. SHARMA, ACCOUNTANT MEMBER AND
                SHRI SANJAY GARG, JUDICIAL MEMBER

                                ITA No.2090/M/2012
                              Assessment Year: 2007-08

        Asstt. Commissioner of Income     M/s. Wham Investments Pvt.
        Tax,                              Ltd.,
        Circle ­ 3(3)                     78A & 78B, Jolly Maker
                                      Vs.
        Room No.609, 6th Floor,           Chamber No.2,
        Aayakar Bhavan,                   7th Floor, Nariman Point,
        M.K. Road,                        Mumbai ­ 400 021
        Mumbai - 400020                   PAN: AAACW0522E
              (Appellant)                     (Respondent)

      Assessee by                 : Shri M. Subramanian, A.R.
      Revenue by                  : Shri B. Yadagiri, D.R.

      Date of Hearing             : 24.07.2014
      Date of Pronouncement       : 24.07.2014

                                    ORDER

Per Sanjay Garg, Judicial Member:

      The present appeal has been filed by the Revenue against the order of
the Commissioner of Income Tax (Appeals) [hereinafter referred to as the
CIT(A)] dated 05.12.2011 relevant to assessment year 2007-08.






2.    The dispute involved in the present case is as to whether the income
earned by the assessee from the sale of shares is to be treated as business
income or income free capital gains.

3.    Before us, learned AR of the assessee relying upon the Instruction
No.3/2011 dated 09-02-2011 submitted that the tax effect in the appeal of the
Revenue is less than Rs.3 lacs, therefore, the appeal of the Revenue is not
maintainable.
                                              2                        ITA No.2090/M/2012
                                                              M/s. Wham Investments Pvt. Ltd.


4.       Learned DR did not controvert to the submission made by the learned
AR.






5. After hearing the learned representatives of both the parties, we find that as
per CBDT Instruction no.3 of 2011, dated 9th February 2011, the appeal before
the Appellate Tribunal can be filed by the Revenue, when the tax effect
exceeds the monetary limit of Rs.3,00,000/-. Therefore the appeal of the
Revenue is dismissed under section 268A of the income Tax Act.


6.       In the result, appeal of the Revenue is dismissed.




                  Order pronounced in the open court on 24.07.2014.



          Sd/-                                                   Sd/-
    (R.C. Sharma)                                           (Sanjay Garg)
ACCOUNTANT MEMBER                                       JUDICIAL MEMBER

Mumbai, Dated: 24.07.2014.
* Kishore, Sr. P.S.

Copy to: The Appellant
        The Respondent
        The CIT, Concerned, Mumbai
        The CIT (A) Concerned, Mumbai
        The DR Concerned Bench
//True Copy//                             [




                                                  By Order



                                 Dy/Asstt. Registrar, ITAT, Mumbai.