Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights September 2019 Year 2019 This

Capital gain arising on account of the succession of the firms - ...


No Restriction on New Partners in Firm Successions u/s 47(xiii) of Income Tax Act.

September 18, 2019

Case Laws     Income Tax     AT

Capital gain arising on account of the succession of the firms - scheme of succession u/s 47(xiii) - there is no prohibition for the introduction of new partners in the partnership firms before the date of succession. - AT

View Source

 


 

You may also like:

  1. Capital gain arising on account of the succession of the firms - scheme of succession u/s 47(xiii) - there is no requirement that the firms should be converted into the...

  2. Incriminating documents seized during search were routine business records, not evidence of income suppression. Assessment u/s 153A invalid when regular assessment...

  3. Short Term Capital Gain - conversion of the Partnership Firms into Companies - Additions in the hands of partners - CIT (Appeals) correctly deleted the additions on...

  4. Capital gain - crediting the enhanced value of the land, which belonged to the firm, to the current account of the partners of the firm and by treating it as loan from...

  5. Characterization of income - consideration received by the partner of a firm upon retirement from the firm - retirement benefit - any money received by the partner upon...

  6. Capital gains - Conversion of partnership firm into company - exemption - conversion of balance in capital account of a partner into loan - transfer - Section 47A r.w.s...

  7. Allowability of depreciation on the actual cost of the assets arrived at by virtue of revaluation of the trade mark - firm is succeeded by a company falling u/s 47(xiii)...

  8. Conversion of the partnership firm into a Pvt. Ltd. company - Violation of the conditions u/s 47(xiii) - part capital was allotted as shares to erstwhile partners and...

  9. Proposed amendment enables recovery of existing liabilities under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from seized assets...

  10. Taxability in the hands of partners v/s firm - transfer of capital asset by firm to partners - There is no merit in the arguments advanced by assessee, that transfer of...

  11. Reconstitution of firm - relinquishment of right and interest in the erstwhile firm - transfer u/s 2(47) - admission of the new partners - No transfer - HC

  12. Capital gain tax liability - transfer - scope of 47(xiii)(b) - the allotment of shares of the company which succeeds to the business of the partnership firm has to be...

  13. Transfer u/s 2(47) - Exemption u/s 47(xiii) - partnership firm succeeded by a private limited company - Treating value of land as loan in hands of company amounts to an...

  14. Exemption u/s 10(26) - Exemption to individual members of Scheduled Tribes - Whether a partnership firm, formed by individual partners who are entitled to an exemption...

  15. Transfer of an industrial undertaking from urban to rural area by a partnership firm qualifies for exemption u/s 54G of the Income Tax Act. The assessee, a partner in...

 

Quick Updates:Latest Updates