HC treated gains from sale of shares as STCG in absence of repetitive transactions of sale & purchase

IT : Where AO took a view that profit arising from sale of shares was taxable as business income, in view of fact that there were no instances of repetitive purchase and sale of shares and, moreover, assessee had used its own funds in order to purchase shares, impugned order was to be set aside and assessee's claim that amount in question was liable to tax as short term capital gain, was to be allowed

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