Which out of the following transactions shall not be regarded as transfer as per provision of section 47 of the Income Tax Act, 1961 for the purpose of working of amount of Capital Gains?

CS Executive · Tax Laws · PYQS · December 2021
Which out of the following transactions shall not be regarded as transfer as per provision of section 47 of the Income Tax Act, 1961 for the purpose of working of amount of Capital Gains?
(A) Transfer made outside India of Rupee Denominated Bond (RDB's) an Indian company, issued outside India by a non-resident to another non-resident.
(B) Compulsory acquisition of capital asset under any law.
(C) Extinguishment of rights in respect of Capital Asset.
(D) Conversion of Capital asset into stock in trade.

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Income Tax Act, 1961

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