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Income Tax - Highlights / Catch Notes

Home Highlights November 2011 Year 2011 This

Sale of assets of partnership firm after dissolution – ...


Former Partners Must Calculate Capital Gains on Asset Sales Post-Dissolution u/s 45 of Income Tax Act.

November 21, 2011

Case Laws     Income Tax     HC

Sale of assets of partnership firm after dissolution – Individual erstwhile partners are liable to compute as Capital Gains under section 45.... - HC

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  10. Partnership firm - Nature of the Certain considerations received after the dissolution of the firm - The appellants as erstwhile partners are liable to pay capital gain...

  11. Sale of investments - Short term capital gain V/S business income - The assessee has accounted for these investments in shares as capital asset in its books of accounts...

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