Assessee is  engaged in business of trading in securities.  On beginning of  financial year, assessee converted its stock-in-trade of shares into investment in shares by passing resolution of board of directors.  Accordingly, it claimed that profits resulting out of sale of such shares was to be treated as capital gains.The  Assessing Officer held  that profits from sale of shares was to be taxed as business income of assessee. On appeal the CIT(A) accepted the contention of the assessee to the extent of LTCGs, however, in respect of STCGs, he treated the same as business income. On appeal the Tribunal held that  since assessee in beginning of year converted its stock-in-trade into investment being shares with an intention to hold them for several years as investment, profits arising from sale of such investment was to be taxed as capital gains, long-term or short-term and not as business income. (AY. 2015-16)