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Ramilaben D. Jain v. ACIT(2018) 407 ITR 589 / 258 Taxman 97 (Bom)(HC),www.itatonlne.org

S.28(1):Business income- Capital gains- sale of shares- Short period of holding shows that intention of assessee is to earn profit at earliest possible occasion-Assessee is moving as per stock market trend and selling shares at first available opportunity. This type of activity of sale and purchase is rightly termed, not as investment, but as trading [ S.45 ]

Dismissing the appeal of the asesee the Court held that ; Short period of holding shows that intention of assessee is to earn profit at earliest possible occasion. Assessee is moving as per stock market trend and selling shares at first available opportunity. This type of activity of sale and purchase is rightly termed, not as investment, but as trading .( ITA No. 326 of 2016, dt. 20.08.2018) ( AY.2007-08)

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