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2016 (9) TMI 3 - AT - Income TaxGains arising on sale of shares - assessable as Short term capital gains OR business income - CIT(A) held that the assessee is an investor and not a trader during the year under consideration - Held that:- we are of the view that there is no reason to interfere with the order passed by Ld CIT(A) on this issue. We have earlier noticed that the Ld CIT(A) has analysed the facts prevailing in the instant year and has shown that the observations made by the AO on various criteria were not correct. Further the assessee’s income in the earlier years has been accepted by the AO in the scrutiny proceedings including the loss declared by the assessee. Accordingly the Ld CIT(A) has held that the principle of consistency should be applied in the present year also, since the assessing officer has not made out a case of change in facts. - Decided against revenue
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