One resident says she heard a man shouting "show me your hands" repeatedly after hearing three gun shots.
Officers returned fire on Monday after shots were fired from a residential property in Paradise Square.
Police said that while a "firearms incident" had ended "peacefully", a "small scenewatch" remained in place.
Paramedics said one man had been treated for non-life threatening injuries.
"The incident was contained and no-one sustained any serious injuries."
Loud bangs were heard on Monday afternoon, while later, in the evening, one resident said the situation was "very much ongoing" after further loud bangs were heard at around 10pm.
A woman who was sat on her balcony said she heard loud bangs, shouting and dogs barking on Monday afternoon.
"After a second round it became apparent these were gunshots so I rushed inside," she said.
"There was a couple more shots, three spurts in total, still a lot of shouting and barking. I heard a man shout 'show me your hands' repeatedly."
Another witness said more loud bangs were heard later on Monday night, which sounded like gunfire, followed by shouting.