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2016 (7) TMI 1087 - HC - Income TaxProfit of sale of share - capital gain or business income - Held that:- In the present case, the peculiar facts are that the investment made was shown as investment and the cost was reflected throughout in the balance sheet and it was never treated as stock-in-trade. Further, if it was to be treated as stock-in-trade and the market value plus cost would have been considered, but such was not treated accordingly by the assessee in the books of accounts. There was also lock-in period for holding of the shares. Under these circumstances, the view taken by CIT (Appeals) and confirmed by the Tribunal, would not call for interference holding that the assessing authority is not right in treating profit derived of ₹ 10,66,425/- on sale of shares under the head business income and not under the head capital gains
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