https://www.taxtmi.com/news?id=19572 Any profit or gain arising from conversion of inventory into, or treatment as, a capital asset shall be charged as business income, with the fair market value of the inventory on the date of conversion deemed to be the full value of consideration; that fair market value will be the cost of acquisition for computing subsequent capital gains and the period of holding of the capital asset will be reckoned from the date of conversion. en-us Mon, 05 Feb 2018 15:24:14 +0530 Mon, 05 Feb 2018 15:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=19572 Any profit or gain arising from conversion of inventory into, or treatment as, a capital asset shall be charged as business income, with the fair market value of the inventory on the date of conversion deemed to be the full value of consideration; that fair market value will be the cost of acquisition for computing subsequent capital gains and the period of holding of the capital asset will be reckoned from the date of conversion. News - Mon, 05 Feb 2018 15:24:14 +0530 https://www.taxtmi.com/news?id=19572