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Treatment to the losses on sale of share as "capital loss" - Assessee has in its books treated the shares as investment and accordingly valued the shares at cost and therefore its contention of holding the shares at stock in trade is also not supported by the method of accounting and its valuation - auditor has also certified that there is no conversion of capital asset to stock in trade. - Tri

Income Tax - Treatment to the losses on sale of share as capital loss - Assessee has in its books treated the shares as investment and accordingly valued the shares at cost and therefore its contention of holding the shares at stock in trade is also not supported by the method of accounting and its valuation - auditor has also certified that there is no conversion of capital asset to stock in trade. - Tri - TMI Updates - Highlights .....

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