Allowing the appeal of the assessee the Court held that on the facts of the case the assessee maintained two separate accounts in respect of its dealing in mutual funds and shares i.e., one for its investment portfolio and other for stock-in-trade. Accordingly the sale of investments are assessable as capital gins. Order of Tribunal reversed and the order of CIT (A) is affirmed. Referred   CBDT Circular No. 4/2007, dated 15-6-2007.   (AY. 2005-06)