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2016 (9) TMI 542 - AT - Income TaxAddition as business receipts under section 28(1)(va) OR short term capital gain - Held that:- From the facts, of the case we find that the Commissioner of Income Tax (Appeals) has thoroughly examined the issue and made a clear cut finding that the assessee had paid ₹ 90,00,000/- for acquiring the business which he has subsequently sold during the succeeding assessment year for the same price. In such circumstances, obviously the short term capital gain will be Nil. Since the learned Commissioner of Income Tax (Appeals) has examined these facts and has given a clear finding, we do not find it necessary to interfere with his order. It is ordered accordingly.
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