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of ITAT adjudicated a multi-issue tax dispute involving conversion of stock-in-trade into capital assets, commission payments, and share transfer transactions. The tribunal held that conversion of stock-in-trade into capital assets is permissible without tax implications, particularly before 2018 legislative amendments. Commission payments made through banking channels with appropriate TDS were validated. Regarding share transactions, ITAT rejected revenue's challenge to short-term capital loss, finding the share purchases through stock exchange as genuine, notwithstanding SEBI inquiries. The tribunal ultimately allowed the assessee's appeal, granting long-term capital gains treatment with indexation benefit and accepting commission and share transaction claims.
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