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2007 (6) TMI 304 - ITAT DELHIExtract: .......on of the firm or on his retirement at less than the fair market value, then, the firm becomes liable to pay capital gains tax. Such is not the case here, as we are dealing with the case of a partner. Therefore, we concur with the learned CIT (Appeals) that nothing was taxable in the hands of the assessee. 6. In the result, the appeal is dismissed.
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