Gujarat H.C : profit of transaction of purchase and sale of shares in the sum of Rs. 1,73,32,347 is long-term capital gain and not business income by treating the said transaction as ‘adventure in the nature of trade

High Court Of Gujarat CIT vs. Niraj Amidhar Surti Assessment Year : 2001-02 Section : 45 D.A. Mehta And Ms. H.N. Devani, JJ. Tax Appeal No. 836 Of 2009 October 21, 2010 JUDGMENT Ms. H.N. Devani, J. – In this appeal under s. 260A of the IT Act, 1961 (the Act), appellant-Revenue has proposed the following…

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