Capital gain on conversion of a Private Limited Company into LLP ...

Capital Gains Tax: Conversion of Private Ltd Company to LLP Excludes Goodwill from Accumulated Profits, No Clause Breach.

January 24, 2023

Case Laws Income Tax AT

Capital gain on conversion of a Private Limited Company into LLP - Addition on account of asset being goodwill brought into books of accounts - the condition prescribed relates to the balance of accumulated profits as on date of conversion out of which amount is paid to the partner, however, since the accumulated profits did not include the amount of Goodwill in the books of the predecessor company, there cannot be said to be any violation of clause (f) either. - AT

View Source

← Previous Next →

Capital gain on conversion of a Private Limited Company into LLP ...

Capital Gains Tax: Conversion of Private Ltd Company to LLP Excludes Goodwill from Accumulated Profits, No Clause Breach.

January 24, 2023

Case Laws Income Tax AT

You may also like:

Capital gains - Goodwill acquired by incurring cost - conversion of proprietory concern to company - revenue appeal - it is very clear that even if you invoke the...

Artificial capital gains loss - colourable device to evade tax - Allegation of transfer of agricultural land to LLP to generation artificial loss to set off with capital...

Addition on account of capital gain - conversion of AOP/trust in company - transfer of the assets u/s 2(47) - till the time of conversion, the AOP remained in existence...

EXEMPTIONS TO PRIVATE COMPANIES UNDER COMPANIES ACT 2013 – IMPACT ANALYSIS - Corporate Laws / Banking / SEBI / LLP

Capital gain - transfer of a capital asset by assessee to its subsidiary company - There are different shareholders of preference share capital other than the holding...

Tribunal held that Vishal Information Technologies Ltd. and Nucleus Net soft & GIS (India) Ltd. should be excluded from comparable selection for determining arm's length...

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...

Transfer of goodwill - Capital gains - Amounts received on retirement by a partner is not subject to capital gains tax - HC

The Income Tax Appellate Tribunal (ITAT) ruled that when an assessee promptly computed and paid advance tax u/ss 234A, 234B, and 234C of the Income Tax Act, and an...

HELD: DRP excluded forex losses and gains from operating income computation based on safe harbor rules. However, both being of similar nature, forex gains to be treated...

The Appellate Tribunal held that negative working capital adjustment cannot be made for a captive service provider. L&T Infotech Ltd. and Infosys Ltd. were excluded from...

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

Capital gain - conversion of the firm into company - exemption u/s 47(xiii) applies only to a case of transfer by sale, but there is no authority for capital gain at all...

Characterization of receipt - amount received by the appellant upon retirement from the partnership - taxability as capital gains under the Income Tax or not? - The High...

The assessee, a Foreign Portfolio Investor registered in India, entered into Forward Foreign Exchange Contracts (FCC) with HDFC Bank to safeguard against foreign...

Quick Updates: