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2003 (11) TMI 317 - AT - Income TaxExtract: .......e not carried out any trading activity in shares. Accordingly, it is held that the profits earned by them on sale of shares are capital gains, long-term or short-term as the case may be, and are not business profits. The order of the CIT(A) is reversed for all the four assessees. 22. In the result, all the four appeals of the assessees are allowed.
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