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1998 (5) TMI 41 - AT - Income TaxExtract: .......at the income from sale of shares reflected in the investment portfolio account is liable to be assessed under the head capital gains and not business income . 8. In view of the foregoing discussion, the impugned order of the Commissioner of Income-tax cannot be sustained. The order is, therefore, cancelled. 9. In the result, the appeal is allowed.
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