Step 1: Oxidising nature.
Conc. HNO\(_3\) acts as a powerful oxidising agent.
Step 2: Reaction with iodine.
Iodine is oxidised to iodic acid (HIO\(_3\)) and HNO\(_3\) is reduced to NO\(_2\).
Step 3: Balanced reaction.
\[
6 HNO_3 + I_2 \rightarrow 2 HIO_3 + 6 NO_2 + 2 H_2O
\]
Step 4: Conclusion.
Thus, conc. HNO\(_3\) oxidises iodine to iodic acid.