Court Rules Joint Venture Share Sale Gains as Capital Gains, Not Business Income; Section 55(2)(aa)(ii) Inapplicable.

Correct head of income - treatment of gain on sale of shares in joint venture as capital gain or business income - CIT(A) while upholding the disallowance of set off of losses has also held that the loss as computed by the assessee is not correct for the reason that the provisions of section 55(2)(aa)(ii) of the Act is not applicable in assessee's case. - Claim of assessee as capital gain allowed - AT .....

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