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2013 (3) TMI 327 - ALLAHABAD HIGH COURTProfit on purchase and sale of gold bonds - whether be treated as the investment? - Held that:- The Tribunal recorded a finding that the intention of the assessee was not to trade in gold bonds taking into consideration the audited accounts of the company and the annexures attached to the balance sheets. It also considered the resolution passed by the company about investment. The finding recorded by the Tribunal that it was not a case of trade in buying and selling of gold bonds. Except one transaction of purchase and sale, there is no other transaction during the previous year - the finding recorded by the Tribunal is essentially a finding of fact - against the revenue.
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