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2017 (9) TMI 840 - GUJARAT HIGH COURTSurplus arising from sale of shares and securities - short terms capital gains OR income from business - period of holding - Held that:- CIT (Appeals) and the Tribunal having applied parameters on the facts of the case and having come to the conclusion that the assessee's stand that the shares were held by way of investment and therefore the sale thereof should result in long term capital gain instead of business income, calls for no interference. Addition u/s 68 - Held that:- Tribunal confirmed the view of the CIT (Appeals) that the Assessing Officer had made the additions only on the presumption that the loan was not found reflected in the balance-sheet of the donor which was wrong presumption. The Tribunal confirmed the view of the CIT (Appeals)) that the assessee had demonstrate the genuineness of the transaction as also the reliability and creditworthiness of the donor. Such being the facts, no question of law arises.
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