HC remanded matter as assessee failed to produce evidence to claim that sold asset was part of stock-in-trade

INCOME TAX : Where petitioners claimed that they had converted their immovable property into stock in trade but inadvertently showed profit or sale of said property as capital gain instead of business income and filed petition under section 264, since they failed to produce books of account/ledgers nor balance sheets along with their application under section 264 regarding conversion of said property, interests of justice would require that petitioners should be given an opportunity to produce

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