https://www.taxtmi.com/forum/issue?id=116861 Sale of a retail shop acquired in 1987 and sold in 2020 is treated as Long Term Capital Gain, requiring the purchase cost and sale consideration to compute gain. Proceeds from bulk sale of stock-in-trade constitute Business Income, and the sale amount for stock is necessary to determine taxable business income. en-us Sat, 21 Nov 2020 13:47:55 +0530 Thu, 23 Jan 2025 15:54:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=116861 Sale of a retail shop acquired in 1987 and sold in 2020 is treated as Long Term Capital Gain, requiring the purchase cost and sale consideration to compute gain. Proceeds from bulk sale of stock-in-trade constitute Business Income, and the sale amount for stock is necessary to determine taxable business income. Discussion-Forum Income Tax Sat, 21 Nov 2020 13:47:55 +0530 https://www.taxtmi.com/forum/issue?id=116861