TMI BlogSec.45(2) of the Act provides the assessee to convert the capital asset into stock-in-trade at any time...Sec.45(2) of the Act provides the assessee to convert the capital asset into stock-in-trade at any time during the year. There is no prohibition under the Act, whether or not the business activities carried on by assessee-company during the relevant AY - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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