There is no transfer of capital asset by way of distribution of ...

No Capital Gain Tax on Partnership Firm for Payments to Retiring Partners as No Asset Transfer Occurs.

December 25, 2015

Case Laws     Income Tax     AT

There is no transfer of capital asset by way of distribution of capital asset at the time of making the payments to the retiring partners and therefore, no capital gain is chargeable to tax in hands of the assessee partnership firm - AT

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