TMI BlogMethod of computation of business income - sale of flat - conversion of land into stock-in-trade -...Method of computation of business income - sale of flat - conversion of land into stock-in-trade - assessee claimed that FMV on the date of conversion of land into stock-in-trade is liable to be taxed as LTCG and excess consideration accrued/ received over and above FMV is liable to be taxed as business income - remanded to redetermined the tax liability ..... X X X X Extracts X X X X X X X X Extracts X X X X
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