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2011 (12) TMI 21 - AT - Income TaxTreatment from Sale & Purchase of shares as Business Income or Capital Gain - Held that:- where assessee purchased shares from own funds - purchase and sale are not frequent and number of transaction are not substantial - purchases were for retention and appreciation of value and not for realizing profit - Valued at cost instead of market value or net realizable value (whichever is less) - in books were shown as Investments, than in such cases AO is unjustified in treating the same as held for trading. - Special tax Treatment as per Sec. 111(A) to be given.
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