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2012 (5) TMI 393 - ITAT MUMBAINature of income from share transactions - business income or capital gains - held that:- the details of share transactions holding period wise have been given by the assessee which is placed in the paper book. It is clear from these transactions that the assessee was regularly purchasing and selling shares in more than 50 scrips. Most of the shares have been sold within three months and in many cases within a month and in some cases within few days. The assessee had also done repetitive transactions in the same scrips which clearly shows trading character. The transaction run into 10 pages and are substantial - The assessee had also speculated in stocks. Considering all the factors mentioned above, it can be reasonably be concluded that the assessee was trading in stocks and was not an investor. - Decided in favor of revenue.
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