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2013 (6) TMI 730 - ITAT MUMBAISale of shares and securities - Short term capital gain OR Income from Business or Profession - Held that:- It cannot be said that the assessee was fully devoted to the stock market transaction. Considering the nature of profession and the facts in totality, in our considered view, the lower authorities have erred in treating the Short Term Capital gains as business income. We accordingly direct the AO to treat the STCG as declared by the assessee. On that note, we reverse the findings of the Ld. CIT(A). - Decided n favour of assessee.
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