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2013 (5) TMI 914 - AT - Income TaxProfit arriving from purchase & sale of shares - capital gain or business income - Held that:- Assessee is engaged in similar activity for the last 30 years and for the last 25 years the assessee was assessed to tax under the head capital gain on similar activity. The revenue never treated the shares as stock-in trade in the hands of the assessee, therefore, the assessee was not carrying on the business of shares. These findings of the Tribunal have been upheld, therefore, the matter is squarely covered by the aforementioned decision of Hon’ble Bombay High Court rendered in the case of assessee itself, namely Shri Dilip V. Variya [2013 (5) TMI 914 - ITAT MUMBAI ]
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