Taxability of capital gain in firm - revaluation of asset being land held by the partnership firm -...

Taxability of capital gain in firm - revaluation of asset being land held by the partnership firm - money equivalent paid to retiring partners to enhanced portion of the assets re-valued does not constitute capital asset within the meaning of section 2(14) - There was also no transfer of capital asset by way of distribution of capital asset either on dissolution or otherwise within the meaning of section 45(4) r.w.s 2(14) .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X