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Applicability of section 45(2) capital gain

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(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)
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CS,CA F,Numrologi TusharSampat

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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.
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