Sale of Shares held taxable under Short term capital gain and not profits and gains of business for following reasons: 1. No borrowings for purchase of Shares 2. Shares held for more than 30 days.( Shri Sugam Chand C. Shah Ahd Trib relied upon) 3. Had shares been held for business, stock would be been valued at cost or market price , whichever is less while in present case stock of Shares valued at cost only. 4. Shares reflected in Investment account. 5. Separate account maintained for F&O BHUPENDRA SHANTILAL SHAHITA No. 1496/Ahd/2011 (28-08-2015)(Ahd Trib)