If I sell my long-term holdings and buy the same shares again later on the same day, will it be considered an intraday transaction, or will my original long-term holdings be treated as sold and the shares purchased again be considered a new investment?
For example, I bought shares in 2021 at ₹500 per share and in 2026 I sell them at ₹2,500 per share. I sell the shares in the morning and buy them back before 3:30 PM on the same trading day. In this case, will my original long-term holding period and cost be maintained and the transaction treated as intraday, or will the original shares be considered sold (triggering long-term capital gains) and the newly purchased shares be treated as a fresh holding?