https://www.taxtmi.com/caselaws?id=206834 The court ruled in favor of the assessee, concluding that the stock introduced into the new business should be valued at the market price of Rs. 49,19,491. The Tribunal's decision to value the stock at cost was set aside. Both questions of law were answered in favor of the assessee, emphasizing the principles of valuing stock at market value when a capital asset is converted into stock-in-trade. en-us Mon, 21 Mar 2011 00:00:00 +0530 Fri, 18 Nov 2011 07:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206834 The court ruled in favor of the assessee, concluding that the stock introduced into the new business should be valued at the market price of Rs. 49,19,491. The Tribunal's decision to value the stock at cost was set aside. Both questions of law were answered in favor of the assessee, emphasizing the principles of valuing stock at market value when a capital asset is converted into stock-in-trade. Case-Laws Income Tax Mon, 21 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206834