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1. Search Case laws by Section / Act / Rule β now available beyond Income Tax. GST and Other Laws Available


2. New: βIn Favour Ofβ filter added in Case Laws.
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<h1>Stock-in-Trade defined as inventory and trade chattels held for sale or hire, key to income tax classification.</h1> Stock-in-Trade in the income tax context denotes movable property held for purposes integral to a trade, encompassing inventory carried for sale in the ordinary course of business and chattels acquired to be sold or let to hire; it also includes tools and equipment when they function as circulating commercial assets rather than fixed capital.