https://www.taxtmi.com/highlights?id=2718 Conversion of land into Stock in Trade - Set off of brought forward losses - It was only the profit arising from sale of stock in trade that could be treated as profits of the business of the assessee of real estate development to the extent of difference between the sale price and fair market value of the land on the date of conversion.... - AT en-us Thu, 19 Jan 2012 08:22:20 +0530 Thu, 19 Jan 2012 08:22:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=2718 Conversion of land into Stock in Trade - Set off of brought forward losses - It was only the profit arising from sale of stock in trade that could be treated as profits of the business of the assessee of real estate development to the extent of difference between the sale price and fair market value of the land on the date of conversion.... - AT Highlights Income Tax Thu, 19 Jan 2012 08:22:20 +0530 https://www.taxtmi.com/highlights?id=2718