Ritik Chopra
Quick Summary
While computing income under the head income from capital gains, the most important thing to understand is the definition of a capital asset. However, let us discuss certain assets which are not considered capital assets. Under Section 2(14) following assets have been specially excluded from the scope of the definition of capital assets: (i) Any stock-in-trade, raw materials, consumable stores held by any assessee for the purposes of his business or profession. It is to be noted that any secu
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