Assessee earned income from sale of shares. AO assessed entire gain as business income.  Tribunal held that shares which were sold after period of one year would give rise to long-term gain.   In appeal the revenue  raised the question framed related to applicability of Explanation to S. 73 of the Act. Dismissing the appeal the Court held that applicability Explanation to S. 73 cannot be raised for first time in proceedings pending before High Court.