Stock-in-Trade can be considered as Transferred only in year in which Assessee had ‘executed the Sale Deed Transferring the Stock-in-Trade’: ITAT [Read Order]

The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) in the case of Shri Challa Ramakrishna Anantapur v. ACIT held that under Section 45(2) stock-in-trade can be considered as transferred only in the year in which the assessee had ‘executed the sale deed transferring the stock-in-trade’. Assessing Officer (AO) brought to assessment Short Term Capital […]

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