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1967 (7) TMI 12 - GUJARAT HIGH COURTPurchase and sale of shares - the right to the issue of deferred shares went to the assessee along with 5,100 shares taken over by him and that was clearly capital in his hands - there is nothing to show that it was converted by him as his stock-in-trade - If assessee realised a profit by sale of this right, it must be regarded as a capital receipt in his hands
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