TMI BlogCapital gain u/s 45(4) - payment to the retiring partners - All that happened was the firm's assets were...Capital gain u/s 45(4) - payment to the retiring partners - All that happened was the firm's assets were evaluated and the retiring partners were paid their share of the partnership asset, there was clearly no transfer of capital asset - no capital gain ..... X X X X Extracts X X X X X X X X Extracts X X X X
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