https://www.taxtmi.com/article/detailed?id=12738 The taxability of capital gains turns on the asset being a capital asset at the time of transfer; statutory exclusions like stock-in-trade and personal effects may cease upon conversion or a decision to sell. Transfer for consideration is the operative event; acquisition or holding-period status is irrelevant if the item is not a capital asset at transfer. Determination requires establishing character at transfer and applying related provisions such as treatment of depreciable business assets and business-use deductions. en-us Wed, 26 Jun 2024 14:02:59 +0530 Wed, 26 Jun 2024 14:02:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12738 The taxability of capital gains turns on the asset being a capital asset at the time of transfer; statutory exclusions like stock-in-trade and personal effects may cease upon conversion or a decision to sell. Transfer for consideration is the operative event; acquisition or holding-period status is irrelevant if the item is not a capital asset at transfer. Determination requires establishing character at transfer and applying related provisions such as treatment of depreciable business assets and business-use deductions. Articles Income Tax Wed, 26 Jun 2024 14:02:59 +0530 https://www.taxtmi.com/article/detailed?id=12738