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Income Tax - Highlights / Catch Notes

Home Highlights April 2014 Year 2014 This

Valuation of stock on discontinuation one business of ...


Partnership Business Closure: Closing Stock Valuation Must Reflect Market Value, Not Book Value, for Outsider Transfers.

April 25, 2014

Case Laws     Income Tax     HC

Valuation of stock on discontinuation one business of partnership firm – if the firms were to transfer closing stock especially an item like gold, to an outsider, definitely book value will not be the value at which the stock would be transferred - HC

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