The AO treated the short term capital gains on sale of shares as business income. CIT(A) accepted the contention of the assessee. On appeal the Tribunal reversed the order passed by the Commissioner (Appeals). On appeal High Court held that Tribunal was not right in reversing the order passed by the Commissioner (Appeals) and holding that the gain made by the assessee on sale and purchase of shares was business profit and not short-term capital gains. (AY-2005-06)