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2016 (4) TMI 472 - AT - Income TaxIncome from capital gain OR business income - whether CIT(A) erred in directing the AO to assess the income as income from capital gain as disclosed by the appellant, as against assessed as business income by the AO - Held that:- Since the assessee has treated the securities as investment and not as stock in trade in all the earlier A.Ys as found by the ld. CIT(A), therefore, in view of the CBDT Circular No. 6/2016 dated 29th February 2016, the revenue cannot be permitted to take a contrary stand this year and claim the securities as “stock in trade”.
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