Amendment of Definition of ‘Capital Asset’

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Full Text of the Document

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....ness or profession, but does not include any stockin- trade or personal assets as provided in the definition. The securities held by a Foreign Institutional Investor which has invested in such securities in accordance with the regulations made under the Securities and Exchange Board of India Act, 1992 (15 of 1992) are also defined as capital assets. 2. There is some uncertainty in characterizatio....