Income from Share Trading in the nature of business cannot be treated as ‘Capital Gain’

We notice that assessee company is engaged in the business of trading in securities. During the year assessee has shown the sale of securities as business receipts at Rs. 73,91,026/-. We also observe that assessee has entered into as many as 7000 transactions of purchase and sale of around 4 lacs equity shares of a single company namely Suraj Stainless Steel Ltd. and the total value of shares sold is Rs. 8,58,03,298/-. We also find from the perusal of page 9 of assessment order depicting the transactions of purchase and sale carried on by the assessee in which even on a single day i.e. 14.11.2...