Tuesday, February 19, 2019

Date of conversion of capital asset into stock-in-trade to be reckoned from date of entry passed in books of a/c

IT : For purpose of section 45(2), date of conversion of capital asset into stock-in-trade has to be determined either on basis of entry passed in books of account of assessee or intention of assessee to exploit capital asset as stock-in-trade for its business purpose

from www.taxmann.com Latest Case Laws http://bit.ly/2SZSZmw

No comments:

Post a Comment

AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...