Capital gain - transfer - revaluation of assets - partnership ...

Case Laws Income Tax

November 26, 2022

Capital gain - transfer - revaluation of assets - partnership firm - retirement of one partner and reconstitution of firm with new partners - applicability of Section 45(4) - the assets so revalued and the credit into the capital accounts of the respective partners can be said to be “transfer” and which fall in the category of “OTHERWISE” and therefore, the provision of Section 45(4) inserted by Finance Act, 1987 w.e.f. 01.04.1988 shall be applicable. - SC

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Capital gain - transfer - revaluation of assets - partnership ...

Case Laws Income Tax

November 26, 2022

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