Section-45(4) of the Act mandates the assessee firm to be liable ...

Assessee firm must pay capital gains tax on asset transfer to retiring partner u/s 45(4), even if reconstituted.

September 8, 2015

Case Laws Income Tax AT

Section-45(4) of the Act mandates the assessee firm to be liable for capital gain tax arising out of the transfer of its asset to the retiring partner even in the circumstance when the partnership is reconstituted on retirement of a partner. - AT

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Section-45(4) of the Act mandates the assessee firm to be liable ...

Assessee firm must pay capital gains tax on asset transfer to retiring partner u/s 45(4), even if reconstituted.

September 8, 2015

Case Laws Income Tax AT

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