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TMI Blog2014 (12) TMI 566X X X X Extracts X X X X X X X X Extracts X X X X ..... ribunal in dismissing the appeal filed by it, the Revenue is before this Court challenging the said order by filing the present appeal, by raising the following questions of law :- "1) Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the sale of shares does not fall under the head income from business but under the head capital ga ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fit on sale of shares to be taxed as business income and not as long term capital gains as the sale constitutes adventure in the nature of trade. 3. Aggrieved against the said assessment, the assessee preferred appeal before the CIT (Appeals). The CIT (Appeals), on consideration of the matter, by following the earlier order passed in the case of the very same assessee in ITA No.1400/M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . The Tribunal held that the shares were held as long term investment and, therefore, the same is entitled to long term capital gains and, thereby, upheld the order of the CIT (Appeals). Aggrieved against the said order, the Revenue is before this Court by filing the present appeal. 5. Heard Mr.T.Ravikumar, learned standing counsel appearing for the appellant. 6. Even at the outset, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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