Conversion of capital assets into stock in trade - colourable ...

Capital Asset to Stock Conversion: Is It a Colorable Device? Tax Implications u/s 45(2) Explored.

October 9, 2015

Case Laws Income Tax AT

Conversion of capital assets into stock in trade - colourable device - short term capital loss v/s business loss on sale transaction of gold - assessee will be entitled to determine the tax liability as per sec. 45(2) in respect of stock in trade in the year in which it is sold. - AT

View Source

← Previous Next →

Conversion of capital assets into stock in trade - colourable ...

Capital Asset to Stock Conversion: Is It a Colorable Device? Tax Implications u/s 45(2) Explored.

October 9, 2015

Case Laws Income Tax AT

You may also like:

Capital gain - effective date of Conversion of capital asset into stock in trade - till the time the owner himself either converts the capital asset into stock-in-trade,...

Computation of profit - sale of asset after conversion from capital asset to stock-in-trade - Apply the provisions of Section 45(2) of the Act and compute the capital...

Capital gain - Land (asset) held as stock-in-trade in the partnership firm - Considering the legal position as explained by us in the relevant provisions of subsection...

Addition u/s 45(2) - conversion of capital asset into stock in trade - The computation of capital account would be based on the consideration being fair market price as...

Addition on account of capital gain - conversion of AOP/trust in company - transfer of the assets u/s 2(47) - till the time of conversion, the AOP remained in existence...

Taxability of capital gain in firm - revaluation of asset being land held by the partnership firm - money equivalent paid to retiring partners to enhanced portion of the...

Long term capital gain on sale of long term capital assets - there is no conversion of capital assets to stock-in-trade either by the assessee or the joint family. In...

Correct head of income - income earned out of sale of property - business income or capital gains - when the asset was converted into stock-in-trade - the assessee has...

Short term capital gain - capital gain arose from transfer of land to the partnership firm by way of capital contribution as the assets was converted to Fixed Capital...

Long term capital loss - Right as a capital asset created by MOU duly registered and the allotment letter, within the meaning of section 2(14) therefore when this right...

Wrong offer to tax on capital gains on the conversion of capital asset to stock in trade by wrongly applying the provisions of section 45(2) - the assessee is estoped...

Distribution of capital assets u/s 45(4) - partnership firm - crediting revaluation surplus to partners account settling their accounts on their retirement - It is the...

Capital gain tax u/s 45 - shares distributed in family settlement - this Tribunal is of the considered opinion that there is no transfer of capital asset, hence, it is...

CGH Society allows builder to construct building, Sum received from builder is not taxable as Capital gain as no capital asset u/s 2(14) & no transfer u/s 45

Correct head of income - income arising on sale of shares held as capital asset after conversion from stock in trade - business income or capital gains - Tribunal erred...

Quick Updates: