Ltcg on capital asset converted into stock in trade

Capital Gain will arise in Pcs.. as and when that piece is sold.

ARE U SURE...???

yup.. sure

Hi 

In a case where the land is converted into stock in trade, capit al gains arises not at the time of conversion but at the time when the asset is sold.

There is a Chennai ITAT judgement in the case of R.Gopinath wherein it was clearly held as mentioned above.

Are there any more such judgements either of the ITAT or high courts etc.,

In case there are any can you please post the same.

thanks

badhreenath R