https://www.taxtmi.com/highlights?id=104581 Taxability of business income from transfer of property held as stock-in-trade arises when the transferee receives possession in part performance of a written agreement for consideration and remains willing to perform. Receipt of the full consideration and delivery of possession complete the transfer; later registration of a conveyance incorporating the earlier agreement is procedural and does not create a fresh transaction. Accordingly, the deemed-consideration rule for stock-in-trade applies only in the previous year of the completed transfer, not in a later year solely because the conveyance was registered then. Income is attributable to the earlier assessment year, and the later-year addition does not survive. en-us Tue, 06 Oct 2026 08:13:52 +0530 Tue, 06 Oct 2026 08:13:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=104581 Taxability of business income from transfer of property held as stock-in-trade arises when the transferee receives possession in part performance of a written agreement for consideration and remains willing to perform. Receipt of the full consideration and delivery of possession complete the transfer; later registration of a conveyance incorporating the earlier agreement is procedural and does not create a fresh transaction. Accordingly, the deemed-consideration rule for stock-in-trade applies only in the previous year of the completed transfer, not in a later year solely because the conveyance was registered then. Income is attributable to the earlier assessment year, and the later-year addition does not survive. Highlights Income Tax Tue, 06 Oct 2026 08:13:52 +0530 https://www.taxtmi.com/highlights?id=104581