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2014 (2) TMI 599 - AT - Income TaxNature of Income – Business Income OR STCG – Income from sale of shares – Held that:- The decision in Tikuchand D. Jogani Versus ACIT [2014 (1) TMI 1599 - ITAT MUMBAI] followed - the assessee has shown all the purchases under the investment portfolio - Nowhere it is provided that if the transactions are frequent and voluminous then the claim of the assessee is not allowable as short term capital gain or long term capital gain as the case may be - the gain on account of sale of shares has to be treated as short term capital gain – thus, the AO is directed to treat the gain on account of sale of shares as short term capital gain – Decided in favour of Assessee.
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