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2011 (5) TMI 315 - ITAT, INDOREBusiness income or short term capital gain - trading of shares - Held that:- even though the assessee has traded in one script only, but the frequency of transaction is very high and shares have been held for very short time and the same had been sold immediately after a short period of purchases is clearly indicative of assessee's intention of trading in shares - profit arising out of purchase and sale of shares, which have been shown by the assessee as capital gains in its return of income have been correctly assessed by the revenue Authorities as income from business - Appeal is dismissed
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