Sunday, December 13, 2015

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

0 comments:

Post a comment