regarding capital contribution to firm

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..... regarding capital contribution to firm
Query (Issue) Started By: - SARVESH BALDI Dated:- 2-3-2013 Last Reply Date:- 8-3-2013 Income Tax
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Income Tax
assessee contributed his hou .....

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..... se along with land to a firm which was now transferd (not registered) to firm by partenership deed. in furtherance of partenrship deed firm demolished the same for purpose of making commercial complex .....

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..... .After an year there was dispute in partners & the land (only one roof constructed) was again taken over by the assesse partner. can now the partner be taxed u/s 45(3) of the act where possession was .....

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..... again taken back. kindly guide Reply By CA GOPALJI AGRAWAL: The Reply: As per section 2(47)(vI), your transaction falls under section 45(3), but the facts of the case may allow to plan otherwise un .....

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..... der the circumstances.
Discussion Forum - Knowledge Sharing .....

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