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2014 (9) TMI 1081 - AT - Income TaxIncome from sale of shares - capital gain or business income - Held that:- Assessee has been consistently treated as Investor by the department itself while framing scrutiny assessment u/s.143(3) for A.Y.2003-04 & 2005-06. The capital gain so offered was accepted by the department. The Tribunal has also decided the exactly similar issue in assessee’s own case in the immediately preceding assessment year 2006-07 in favour of the assessee Respectfully following the order of the Tribunal in assessee’s own case as well as the stand taken by the department in assessee’s own case in earlier year, we do not find any merit in the order of CIT(A) for bifurcating the investment so made by the assessee and thereby treating the shares held for more than 60 days as short term capital gains and on sale of shares held for less than 60 days as business income. - Decided in favour of assessee
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