Conversion of land into Stock in Trade - Set off of brought ...

Real Estate Case: Profit from Land Conversion to Stock in Trade Calculated by Sale Price Minus FMV on Conversion Date.

January 19, 2012

Case Laws Income Tax AT

Conversion of land into Stock in Trade - Set off of brought forward losses - It was only the profit arising from sale of stock in trade that could be treated as profits of the business of the assessee of real estate development to the extent of difference between the sale price and fair market value of the land on the date of conversion.... - AT

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Conversion of land into Stock in Trade - Set off of brought ...

Real Estate Case: Profit from Land Conversion to Stock in Trade Calculated by Sale Price Minus FMV on Conversion Date.

January 19, 2012

Case Laws Income Tax AT

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