By virtue of section 70 of the Income-tax Act, 2025, which of the following is NOT treated as a…
Section 70(1)(zi) excludes the specified exchange for "units allotted by that trust" from section 67. Compulsory acquisition and conversion to stock-in-trade instead fall…
Choose your answer
By virtue of section 70 of the Income-tax Act, 2025, which of the following is NOT treated as a transfer chargeable to capital gains under section 67?
Answer and explanation
Correct answer B
Section 70(1)(zi) excludes the specified exchange for "units allotted by that trust" from section 67. Compulsory acquisition and conversion to stock-in-trade instead fall within the general transfer definition, subject to their applicable charging rules.
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