Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 1971 (2) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1971 (2) TMI 17 - HC - Income TaxDissolution of firm - retiring partner receives value of his share from the fourth partner who took over the entire partnership concern - credit of Rs. 30,000 was given to the assessee on October 1, 1964, being the share in the increase on the revaluation of the building and land - whether on a proper interpretation of section 47 of the Income-tax Act, 1961, the Tribunal was right in holding that the sum could be correctly taxed as capital gain in the hands of the assessee
|