Intra Day Trading in Equity & Trading in Futures & options

In one of the Assessment Proceedings for the Assessment Year 2018-19, The Faceless Assessment Unit has considered Income from Intraday Trading in Equity and Income from Trading in Futures & options as Short Term Capital Gain. The Assessee has considered Income from Intraday Trading in Equity as Speculative Business Income and Income from Trading in Futures & options as Normal Business Income which in my opinion is correct. Whether the below noted contention of the Assessment Unit is correct? Contention of the Assessment Unit: "Since the assessee is an Employee of a PSU, the Profit from Intraday trading in Equity…

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