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2011 (7) TMI 1187 - ITAT MUMBAI
Extract:
....... not “business income”. 18. Under the circumstances and in view of the above, we hold that the assessee’s holdings of shares is to be treated as their investments and profit on sale of share should be treated as capital gains. 19. In the result, the appeal of the assessee is allowed. Order pronounced on this 15th day of July, 2011