Tag Archives: Deensons Trading Co. (P.) Ltd. v. Income Tax Officer

Holding period of asset converted into investment from Stock-in-trade to be taken from date of such conversion

Facts of the case During the AY 1995-96, the assessee has shifted the property from the schedule of inventories (Stock in trade) to the schedule of investments. The submitted that the assessee has closed the real estate business and entered into the textile business and converted the stock in trade into investments. The said properties… Read More »