Taxpayer's Land Conversion to Stock-in-Trade Upheld; Section 45(2) Applied, Section 50C Not Applicable for 2000-01 Gains.

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....Short term capital gain arising out on transfer of land - nothing illegal about the conversion of land by the assessee into stock -in-trade - no infirmity in the order of CIT(A) in applying the provisions of section 45(2)& provisions of section 50C will not apply to computation of capital gain on conversion of land in assessment year 2000-01 - AT....