https://www.taxtmi.com/highlights?id=38569 Computation of profit - sale of asset after conversion from capital asset to stock-in-trade - Apply the provisions of Section 45(2) of the Act and compute the capital gains upto to the date of conversion into stock in trade, and thereafter on actual sale of the land i.e. the difference between the value of sale and stock in trade to be considered as business income. - HC en-us Sat, 24 Mar 2018 08:39:29 +0530 Sat, 24 Mar 2018 08:39:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=38569 Computation of profit - sale of asset after conversion from capital asset to stock-in-trade - Apply the provisions of Section 45(2) of the Act and compute the capital gains upto to the date of conversion into stock in trade, and thereafter on actual sale of the land i.e. the difference between the value of sale and stock in trade to be considered as business income. - HC Highlights Income Tax Sat, 24 Mar 2018 08:39:29 +0530 https://www.taxtmi.com/highlights?id=38569