Allowing the appeal the Court held that the Tribunal had erred in treating the income that arose on sale of shares held as capital asset after conversion from stock-in-trade as business income. The assessee had converted stock-in-trade into investments. Prior to introduction of the Finance Bill, 2018 by which provisions of the Act had been amended to provide for taxability in cases where stock-in-trade was converted into capital asset, there was no provision to tax the transaction. In the absence of any provision in the Act, the transaction in question could not have been subjected to tax. The order of the Tribunal was quashed.( AY.2004-05, 2005-06)