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Capital Gains On Conversion of Capital Assets Into Stock-In-Trade - Sec. 45(2)

Income Tax - Capital Gains - 13 - SEC - 45(2): CAPITAL GAINS ON CONVERSION OF CAPITAL ASSETS INTO STOCK-IN-TRADE Capital Gains shall arise where an assessee converts or treats the capital asset into s .....

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gain shall be taxable in the year in which such stock in trade is sold. The amount recorded in the books of account of the business as the value of stock-in-trade is not relevant. FMV on date of conve .....

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