TMI BlogLTCG - FMV detrmination - AO computed assessee’s share being 1/4th of the long term capital gain - scope...LTCG - FMV detrmination - AO computed assessee’s share being 1/4th of the long term capital gain - scope of section 9B of the Act which was brought on the Statute book by Finance Act, 2021 w.e.f 1.4.2021 - As perused the provisions of Section 9B and also analysed the arguments made before us by both the Parties and find that there was no provision in the Act to compute the deemed gain in respect of assets of the firm upon reconstitution retirement of a partner. We also note that a specific provi..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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