Capital Gains

Direct Taxation

Conversion of Capital Asset into Stock in trade . In the given question in picture attached, Capital Gains and PGBP shall arise in PY 23-24. Because, Building held as stock in trade is sold in 23-24. Hence , No capital gain and neither PGBP shall arise in PY 22-23 !

Screenshot_2023-03-07-14-56-50-96_e2d5b3f32b79de1d45acd1fad96fbb0f.jpg

Varun Mulay

CA Final

★ 39K+

07-Mar-23 15:00

459

Answers (4)

Is my opinion valid ??

Thread Starter

Varun Mulay

CA Final

★ 39K+

07-Mar-23 15:00

Taxation will arise in PY 23-24

CA Suraj Lakhotia

Admin

07-Mar-23 15:15

CA Suraj Lakhotia Admin

Taxation will arise in PY 23-24

Yes sir , then I may reason for same in answer and deny for taxability in PY 22-23

Thread Starter

Varun Mulay

CA Final

★ 39K+

07-Mar-23 15:59

Write same Note (reason) in paper ?

Thread Starter

Varun Mulay

CA Final

★ 39K+

07-Mar-23 16:00