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2015 (2) TMI 934 - AT - Income TaxShare transaction - long term capital gain v/s business income - revision u/s 263 - Held that:- The intention of holding shares for a long period as investment does not amount to business income. The CIT has also dropped the proceedings initiated u/s. 263 of the I.T. Act in the immediately preceding assessment year 2004-05 on similar facts. Therefore, these transactions are to be treated as long term or short term capital gain and not business income. Thus these transactions are investment and not business. - Decided in favour of assessee.
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