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2013 (5) TMI 392 - AT - Income TaxDetermination of income – Sale of shares - Whether STCG or business income? – Assessee submits that the issue involved has already been decided by the Tribunal in his earlier case, however, ld CIT(A) has simply dismissed the appeal without following the correct ratio laid down by the Tribunal decision. Held that:- Assessee’s contention that income from sale of shares is to be treated as STCG and has not been accepted on the ground that looking to the frequency of transactions and holding period is also from “0” to few days. In A.Y. 2006-07 the matter has been restored back to the file of AO to follow the order of the Tribunal. Accordingly, we also set aside the order of the CIT(A) to the file of the AO who is directed to consider the issue in accordance with the findings given by the Tribunal in assessee’s own case for the assessment year 2005-06 and 2006-07.
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