Court Rules Frequent Share Trading as Business Activity; Short-Term Gains Classified as Business Income, Not Long-Term Capital Gains Exemption.

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....LTCG - Characterization of income - Benefit of exemption - as the assessee has entered into multiple transactions for various listed Companies, it was a regular feature of the assessee to trade in shares to obtain short term gain and, therefore, the short term gain has rightly been included as business adventure and has rightly been included in the income of the assessee. - HC....