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2004 (8) TMI 41 - ALLAHABAD HIGH COURTBusiness profit - stock-in-trade - Settlement Commission, by the impugned order had held that the profit arising out of the sale of silver in question should be assessed as business profit for the assessment year 1993-94 as the silver was stock-in-trade - In view of the aforementioned findings of the fact recorded by the Commission which are based on appreciation of evidence and material on record, the irresistible conclusion is that the silver was either stock-in-trade or raw material of the petitioner and by no stretch of imagination, can it be treated as capital asset. Thus there is no infirmity in the order which requires any interference by this court under article 226 of the Constitution of India. - The writ petition lacks merit and is, accordingly, dismissed in limine.
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