Land received on HUF partition was itself stock in trade, hence no conversion u/s 45(2)
July 10, 2020
High Courts, Income Tax
Land received on HUF partition was itself stock in trade, hence there was no conversion of capital assets u/s 45(2) of Income Tax Act ABCAUS Case Law Citation:ABCAUS 3331 (2020) (07) HC Important case law relied upon by the parties:Kalooram Govindaram vs. CIT (1965) 57 ITR 335 (SC)Udarshan …