Easy Office
LCI Learning

Applicability of section 45(2) capital gain

This query is : Resolved 
Profile Image

Profile Image

(Querist)
14 March 2014 sir please tell is section 45(2) capital gain on conversion of capital asset is applicable in the following case:

xyz Pvt. Ltd. co. real estate co.

in balancesheet of last 4 years one property was shown as investments

and in current the above investment was transferred in Closing stock of the co.

now please tell is section 45(2) applicable, even the ownership of asset is same (ie.company's status is same)
Profile Image

CS,CA F,Numrologi TusharSampat

Profile Image

CS,CA F,Numrologi TusharSampat (Expert)
14 March 2014 how can investment directly become closing stock unless its first converted to stock?

yes 45(2) is applicable.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links