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2002 (3) TMI 16 - KERALA HIGH COURT
Capital Gains, Reconstitution Or Firm - Whether, on the facts and in the circumstances of the case, the Tribunal is right in law and facts in holding that the provisions of section 45(4) have no application to the facts of the case and that the addition could not be sustained under that section? - we are of the view that when a partnership is reconstituted by adding a new partner, there is no transfer of assets within the meaning of section 45(4) of the Income-tax Act.