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2013 (1) TMI 892 - HC - Income TaxWhether the income earned from the sale of shares is admissible as business income or capital gains - Held that:- The assessee was carrying business of investment in shares for last 30 years and for the last 25 years was assessed to tax under the head capital gains and not under the head of profit and gains of business by the revenue - The revenue never treated the shares as stock in trade of the respondent assessee - hence assessee is not carrying on business of shares trading- thus no question of law arises - appeal is dismissed in favor of assessee
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