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2013 (1) TMI 874 - AT - Income TaxNature of income on sale of shares - whether capital gains on sale of capital asset or business income - Held that:- Asssessee’s investment behaviour implies that the assessee being an investor in equity shares qua his shareholding as at the beginning of the year - For the year under reference also assessee is an investor, albeit an active one, returning a short term capital gain both qua the investment in mutual funds as well as on the shares purchased by him during the year - The same is accordingly validated as short term capital gains - Decided in favor of assessee
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