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2017 (1) TMI 1246 - AT - Income TaxProfit earned on sale of shares - short term capital gain OR business income - Held that:- We are of the opinion that conduct of the assessee reflect the intention of business activity and, thus, we, accordingly, hold the shortterm capital gain declared by the assessee amounting to ₹ 35,14,66,127/- as the profit and gains from business activity of purchase and sale of shares. Accordingly, the ground of the appeal of the Revenue is allowed.
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