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2008 (1) TMI 314 - HC - Income TaxCost of acquisition could only be the cost on the date of actual acquisition, not on the date of conversion from stock-in-trade to capital asset – hence option of adopting “Fair Market Value” as “cost of acquisition” is available to assessee - whether the coupons received alongwith non convertible debentures were liable for capital gains – no proof that coupons were security as per Securities Contracts Regulation Act – section 55(2) will not apply – coupons not liable to capital gain
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