https://www.taxtmi.com/forum/issue?id=1744 Where stock in trade is converted into investments, sale on a recognised exchange with transaction tax may attract the exchange sale exemption and be treated as capital gains. Authorities conflict on whether the holding period and indexed cost are measured from original acquisition or from the conversion date; absent a specific reverse conversion provision, holding period commonly runs from original purchase and indexed cost is based on that acquisition date. en-us Mon, 01 Feb 2010 13:03:02 +0530 Thu, 23 Jan 2025 15:58:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=1744 Where stock in trade is converted into investments, sale on a recognised exchange with transaction tax may attract the exchange sale exemption and be treated as capital gains. Authorities conflict on whether the holding period and indexed cost are measured from original acquisition or from the conversion date; absent a specific reverse conversion provision, holding period commonly runs from original purchase and indexed cost is based on that acquisition date. Discussion-Forum Income Tax Mon, 01 Feb 2010 13:03:02 +0530 https://www.taxtmi.com/forum/issue?id=1744