Assessee is eligible for capital gain exemption u/s.54F of the Act if the investment is done when the converted stock in trade is sold: Ranchi ITAT
Waiver of working capital loan by bank & it’s taxation u/s 41 as Remission or cessation of trading liability
ITAT slams AO for not allowing benefit of Sec. 43(5)(e);loss due to suspension of NSEL operation was business Loss