Dismissing the appeal of the revenue the Court held that  ,  the intention of the assessee,  purchases of shares and securities had been shown under the head of investment in the balance-sheet and not as stock-in-trade,  the assessee had valued its investment and shares and securities not at the lower of cost or market value but at cost only,  the assessee had not claimed any deduction under section 88E of the Act, 1961 for securities transaction tax paid during the year,  the assessee had made investment from its own funds and therefore, there was no involvement of borrowed funds for transaction in shares and securities carried out by the assessee. Accordingly the order of Appellate Tribunal assessing the income as capital gain is affirmed .( AY. 2005-06 to 2011-12)