https://www.taxtmi.com/caselaws?id=434279 Property converted into stock-in-trade on 25.03.2016 could not continue to be assessed under the head capital gains once that conversion was not displaced. On the facts, the absence of a registered sale deed meant the transaction was not completed as a transfer merely because of an agreement, GPA arrangement, or possession claim, and part performance under section 2(47)(v) did not override the changed character of the asset. Reliance on the arbitral award also did not sustain the capital gains addition. The addition under the head capital gains was therefore held unsustainable. en-us Tue, 31 Jan 2023 00:00:00 +0530 Tue, 21 Feb 2023 08:38:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434279 Property converted into stock-in-trade on 25.03.2016 could not continue to be assessed under the head capital gains once that conversion was not displaced. On the facts, the absence of a registered sale deed meant the transaction was not completed as a transfer merely because of an agreement, GPA arrangement, or possession claim, and part performance under section 2(47)(v) did not override the changed character of the asset. Reliance on the arbitral award also did not sustain the capital gains addition. The addition under the head capital gains was therefore held unsustainable. Case-Laws Income Tax Tue, 31 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434279