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2019 (1) TMI 279 - AT - Income TaxIncome from sale of shares - Short Term Capital Gain and long-term capital gain OR business income - Held that:- We hold that the frequency, magnitude of the transaction in systematic manner cannot be the criteria to hold that the assessee is engaged in business activity of shares. Therefore, we are inclined to set aside the order of Learned CIT(A) and direct the AO to treat the income from investment activity under the head capital gain. - Decided in favour of assessee.
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