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of <h1>Deferred roll-over gains become taxable capital gains if transferred asset converted to stock-in-trade or control lost within eight years</h1> Profits or gains from a capital asset that were not charged under the capital gains head by operation of specified roll-over provisions will be recharacterized as taxable capital gains if, within eight years of the transfer, the transferee converts the asset into stock-in-trade or the parent/holding entity ceases to hold the entire share capital of the subsidiary. Similarly, failure to comply with conditions in the cited transition provisions causes those deferred gains to be taxed as capital gains of the successor company; failure of a separate set of conditions results in taxation of those gains in the successor limited liability partnership or the predecessor's shareholder.
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