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2015 (10) TMI 2054 - AT - Income TaxShare transactions - short term capital gain or trading profits - Held that:- It is clear that for the purpose of evaluating the nature of transaction and intention of the assessee, predominant facts are to be taken into account. It is pertinent to note that when the assessee has given a treatment of these shares held under the investment portfolio in the books of account as investment, then, in absence of any thing contrary brought on record to disprove the primary evidence to reflect the intention of the assessee in carrying out the transaction the nature transaction being investment cannot be treated as trading. In view of the above facts and circumstances of the case, we hold that the shares held by the assessee in the investment portfolio cannot be treated as stock-in-trade and consequently the transactions are in the nature of investment and not trading. Accordingly, we set aside the orders of the authorities below and allow the claim of the assessee of STCG. - Decided in favour of assessee.
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