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2013 (9) TMI 1086 - ITAT MUMBAIShare transactions - STCG OR business income - Held that:- Number of scrips and transactions giving rise to Short Term Capital Gain are not very huge so as to indicate that the intention of purchase and sale was not the investment but trading. Further when the Assessing Officer has accepted the claim of the Short Term Capital Gain in the earlier year then in the same facts and circumstances the rule of consistency has to be maintained as held by the Hon’ble High Court in case of CIT Vs Gopal Purohit (2010 (1) TMI 7 - BOMBAY HIGH COURT ). Accordingly, we set aside the orders of the authorities below and allowed the claim of the assessee.
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