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2012 (7) TMI 132 - ITAT, AGRACapital gain – sale of shares - addition made by treating the profit on sale of shares as business profit as against Short Term Capital Gains and Long Term Capital Gains - assessee derives income from purchase and sale of Biri and match box etc. in the name of proprietary concern as well as from business of share trading – Held that:- Assessee declared Long Term Capital Gain on sale of shares on delivery basis and the intention of the assessee was to earn dividend - dividend has been earned by the assessee in respect of investment in shares - assessee has recorded the share transaction in books of account in first set of transaction as investment in shares and second set of transaction investment in shares for the purpose of business - order of CIT(A) that in A.Y. 2005-06 the CIT(A) accepted the assessee’s claim and set aside the order of A.O - to maintain consistency CIT(A) has rightly set aside the order of A.O. and allowed the claim of the assessee in respect of shares for which the assessee has shown Capital Gain – In favor of assessee
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