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TMI BlogTreatment of capital assetX X X X Extracts X X X X X X X X Extracts X X X X ..... For brain storming: Does the A.O. has jurisdiction and power to treat a 'capital asset' as stock-in-trade? In my view -no. Every property is a capital asset, except some excluded items. Whether,an ite ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m is stock-in-trade or not will depend on the basis of items for which any person is known as trader or dealer, os long he continue as is dealer in such item. Pool of cars used to run on hire are capi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tal asset, the same person may trade in cars, cars kept for selling are only his stock-in-trade. In cases where a person is not a trader of any item say shares , units, his holding will be capital ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ets, unless he has treated or converted such assets into stock-in-trade. - Reply By Rama Krishana - The Reply = The manner in which is treating the assets in books of account and use in the business ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is a question of fact. This issue is, in my view, is purely a question of fact and no general rule can be framed. - Treatment of capital asset - Query Started By: - DEV KUMAR KOTHARI Dated:- 3-1-20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 09 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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