https://www.taxtmi.com/caselaws?id=59765 The Tribunal upheld the assessment of capital gains tax on the assessee for the year the stock-in-trade was sold, despite the conversion occurring before 1-4-1985. The Tribunal clarified that capital gains should be charged based on the law applicable at the time of the taxable event (sale of converted assets), not the conversion date. The appeal was dismissed, affirming the assessment of capital gains tax on the sale of the stock-in-trade. en-us Fri, 10 May 2002 00:00:00 +0530 Mon, 22 Feb 2016 16:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59765 The Tribunal upheld the assessment of capital gains tax on the assessee for the year the stock-in-trade was sold, despite the conversion occurring before 1-4-1985. The Tribunal clarified that capital gains should be charged based on the law applicable at the time of the taxable event (sale of converted assets), not the conversion date. The appeal was dismissed, affirming the assessment of capital gains tax on the sale of the stock-in-trade. Case-Laws Income Tax Fri, 10 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59765