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Case Law Details

Case Name : Smt. Anju Gaggar Vs. Asstt. Commissioner of Income Tax (ITAT Hyderabad)
Appeal Number : ITA No.1270/Hyd/2015
Date of Judgement/Order : 21/03/2018
Related Assessment Year : 2008-09
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Smt. Anju Gaggar Vs. ACIT (ITAT Hyderabad)

During the relevant financial year, there were repeated purchase of same scrip and sale thereof immediately, almost on daily basis to take advantage of the market fluctuations. Further that, records of the broker clearly revealed that she had no intention to make investments for long periods. Hence, income from the sale of shares was rightly treated as business income instead of capital gains.

FULL TEXT OF THE ITAT JUDGMENT

This is assessee’s appeal for the A.Y 2008-09. In this appeal, the assessee is aggrieved by the order of the learned CIT
(A)-VI, Hyderabad, dated 25.08.2015 confirming the assessment order dated 29.03.2014.

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