Holding period of capital asset shall not include period for which it was held as stock in trade
The High Court of Delhi held
that where stock in trade is converted into capital asset, the holding period
for the purposes of classifying it as long-term or short-term capital asset
shall be reckoned excluding the period for which it was held as stock-in-trade
prior to conversion.
Commissioner of Income-tax -Delhi –I v. Abhinandan Investment Ltd. [2015]
63 taxmann.com 263
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