INCOME TAX QUERRY

I HAVE A FOLLOWING QUERRY IN INCOME TAX

If a holding company holding 60% shares in subsidiary company transfers shares held as "stock in trade" at book value i.e Rs. 800,000. The Fair market value of the shares as on date of transfer is Rs.12,00,000. Is it correct on behalf of assessing officer to tax the difference between fair market value and book value.

Will there be any difference if the above asset is not stock in trade but held as "investment". 

Please let me know as soon as possible

Thanks & Regards.