https://www.taxtmi.com/forum/issue?id=2002 Conversion of listed shares into stock-in-trade produces a long-term capital gain measured to the conversion date and business income on subsequent sale; because no transfer of a capital asset with STT occurred on conversion and the actual sale is of stock-in-trade, the STT-linked exemption is not available on either event, a position that can prompt assessment disputes over set-off and exemption treatment. en-us Mon, 21 Jun 2010 19:01:17 +0530 Thu, 23 Jan 2025 15:58:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=2002 Conversion of listed shares into stock-in-trade produces a long-term capital gain measured to the conversion date and business income on subsequent sale; because no transfer of a capital asset with STT occurred on conversion and the actual sale is of stock-in-trade, the STT-linked exemption is not available on either event, a position that can prompt assessment disputes over set-off and exemption treatment. Discussion-Forum Income Tax Mon, 21 Jun 2010 19:01:17 +0530 https://www.taxtmi.com/forum/issue?id=2002