Whether the date of transfer, as referred to in section 54E of the Act, is the date of conversion of the capital asset into stock-in-trade or the date on which the stock-in-trade is sold or otherwise transferred by the assessee

Date of transfer for converted capital assets measured from sale of stock-in-trade, defining the investment window for deductions.

Conversion of a capital asset into stock-in-trade is treated as a transfer but assessment of the resulting capital gain is postponed until the year of actual sale; therefore the permissible period for making reinvestments to claim deductions in specified assets must be measured from the date the stock-in-trade is actually sold or otherwise transferred, since the right to collect sale consideration arises only on sale.