Assessee, owner of a land, entered into a joint development agreement (JDA) for development of its land and offered consideration received as long-term capital gain (LTCG) after adjusting indexed cost of acquisition of land. Assessing Officer disallowed claim of cost of acquisition on ground that land was still appearing in balance sheet of assessee, thus, benefit of cost could not be given and, accordingly, made addition of LTCG. Tribunal held that merely because land was continued to be reflected in balance sheet of assessee, same would not have any adverse implication on computation of LTCG as accounting treatment in books of account could not override determination of real income under Income-tax Act.  While computing indexation cost CIT(A) restricted benefit of indexed cost of acquisition till AY 2008-09 in which JDA was signed as against AY 2011-12 when construction was completed on ground that benefit of indexation could be allowed only till AY 2008-09 when there was conversion of capital asset into stock-in-trade in terms of section 45(2) upon execution of JDA.  On appeal the Tribunal held that since assessee was in healthcare business and not in business related to real estate and as such it could not be said that assessee, by entering into JDA had converted land into stock-in-trade, there was no scope of applicability of section 45(2) and, accordingly, assessee was to be allowed benefit of indexation of cost of acquisition till AY 2011-12 when taxable income arose. (AY. 2011-12)