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1980 (6) TMI 56 - ITAT COCHINExtract: .......000 per year could be taken as sufficient consideration for his giving up his share of the goodwill. 8. In the result, we hold that there is no gift involved in the transaction by which the firm was dissolved and that no gift, either express or implied, had been made by the assessee. Therefore, the assessment is set aside. 9. The appeal is allowed.
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