Mahaveer Yadav v. ITO (2018) 169 ITD 717 (Jaipur) (Trib.)

S.45(2): Capital gains- Conversion of assets in to stock in trade -Agricultural land converted in to residential plots as stock in trade and sold capital gain is to be computed as per S.45(2) of the Act.[ S.45 ]

Agricultural land was converted in to residential plots as stock in trade and sold accordingly the income to be computed as per S.45(2) of the Act partly capital gains and business income on sale of plots . ( AY.2011-12)

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