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Income Tax - Highlights / Catch Notes

Home Highlights September 2019 Year 2019 This

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


Capital Gains in Firm Succession: No Need for Conversion if Company Acquires All Assets and Liabilities (Section 47(xiii.

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 requirement that the firms should be converted into the company - It is sufficient if the existing company acquires all the assets and liabilities of the partnership firms in the manner as provided u/s 47(xiii) - AT

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