stock in trade "stock in trade" of a chargeable person means his chargeable petroleum which he holds in his stock and which he has not- (i) delivered to a plant for refining or liquefying; (ii) exported; or (iii) sold. ACT 543 - PETROLEUM (INCOME TAX) ACT 1967 (Revised 1995) 2. Interpretation.
stock in trade "stock in trade", in relation to a business, means property of any description, whether movable or immovable, being either- (a) property such as is sold in the ordinary course of the business or would be so sold if it were mature or if its manufacture, preparation or construction were complete; or (b) materials such as are used in the manufacture, preparation or construction of any such property as is referred to in paragraph (a) of this definition, and includes any work in progress; ACT 53 - INCOME TAX ACT 1967 2. Interpretation.