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2013 (7) TMI 996 - AT - Income TaxWhether there is transfer u/s 2(47) - conversion of land and building into stock in trade - Held that the gain on transfer of property up to the date of conversion into stock-in-trade has to be assessed under the head “capital gains” and the gain in respect of property i.e. after the date of conversion into stock-in-trade has to be assessed as business income - Decided partly in favour of assessee.
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