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2015 (12) TMI 759 - ITAT AHMEDABADProfits from shares - CIT(A)’s directing AO to treat his share profits as business income in case of shares held for less than 30 days and capital gains heaving holding period more than that - Held that:- It transpires that the Commissioner of Income Tax(A) has followed the tribunal’s order in deceased assessee’s own case relating to preceding assessment years in directing the Assessing Officer to treat profits arising from shares held less than 30 days only as business income and exceeding the said period to be capital gains. There is no distinction on facts forthcoming. The Revenue merely pleads that its appeal u/s. 260A of the Act is pending before the hon’ble high court. We do not see the same to be a plausible explanation for adopting a different view. More so, when the same has arisen in assessee’s own case in preceding assessment years without these being any change in facts and circumstances. We adopt consistency in these facts and reject the Revenue’s sole substantive ground. - Decided against revenue
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