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2013 (8) TMI 1018 - ITAT MUMBAIComputation of short-term capital gain - Held that:- Computation of capital gain prescribed under section 48 of the Act cannot be confused with the rate of tax liable to be charged on the income under section 48 of the Act could not be confused with the rate of tax liable to be charged on the income under the head “Capital gains” so computed. The computation of capital gain is governed by section 48 whereas the rates of tax are governed by sections 111A and 115AD of the Act. The authorities below had erred in negating the assessee’s computation of short-term capital gain
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