2017 (8) TMI 1430

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....P.C. 1. The present appeal pertains to Assessment Year 2008-09. 2. The learned Counsel submits that the Assessing Officer on examining the transactions entered into by the assessee in respect of various shares, had rightly come to the conclusion that the income derived from the sale of shares is a "business income" and not a "short terms capital gain". According to the learned Counsel, the r....

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....capital gain. It would depend upon the facts and circumstances of each case. It has been observed by the Commissioner that only 10 scripts are traded. It was not a case of the repeated sale of the same script. It was not a case of frequent buying and selling to make quick money. The intention can be proved by the conduct of the assessee after the purchase. The CIT(A) has given the details of the 1....