Tribunal held that , all the transactions were delivery based and had been duly credited to the dematerialised account of the assessee. People do borrow funds for purchasing house and it could not be said that such transaction was in the nature of trade. The transactions were on account of investments. The assessee received dividend of Rs. 15,48,340 during the year on such investments. Thus, the objective of making investments for realising gain and dividend was established. AO was directed to assess the gain as capital gain and not as business income . ( AY.2007-08)