https://www.taxtmi.com/highlights?id=104151 Conversion of a capital asset into stock-in-trade under a joint development arrangement requires proof that the asset entered the assessee's business stock; executing such an arrangement alone, particularly without a real-estate business, does not establish conversion. On that basis, the long-term capital-gains addition was deleted. A transfer of flats to a spouse without actual consideration, made to safeguard property interests, is not a sale merely because a sale deed records consideration. The deed recital cannot establish income received, and the business-income addition was deleted. en-us Fri, 25 Sep 2026 08:16:32 +0530 Fri, 25 Sep 2026 08:16:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=104151 Conversion of a capital asset into stock-in-trade under a joint development arrangement requires proof that the asset entered the assessee's business stock; executing such an arrangement alone, particularly without a real-estate business, does not establish conversion. On that basis, the long-term capital-gains addition was deleted. A transfer of flats to a spouse without actual consideration, made to safeguard property interests, is not a sale merely because a sale deed records consideration. The deed recital cannot establish income received, and the business-income addition was deleted. Highlights Income Tax Fri, 25 Sep 2026 08:16:32 +0530 https://www.taxtmi.com/highlights?id=104151