Capital Gain Classified as Long-Term Under IT Act Section 45(4) for Property Transfer Upon Partner Retirement.

Transfer of the property by way of distribution of assets on retirement of two partners - there is no error or illegality in the order of the CIT(A) in allowing the claim of the assessee regarding capital gain as long term capital gain u/s 45(4) arising from the land retained by the assessee which was purchased in the year 1960 - AT .....

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