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1976 (12) TMI 10 - HC - Income TaxExtract: .......art of business and the surplus is to be treated as capital gains only. Our answer to the question referred to is as follows The surplus realised on the sale of the rights, and the rights shares was assessable not as a business profit, not as a profit from an adventure in the nature of trade but as capital gains. There will be no order as to costs.
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