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Income Tax - Highlights / Catch Notes

Home Highlights January 2017 Year 2017 This

Revision u/s 263 - when a partner retires from the partnership ...

Income Tax

January 5, 2017

Revision u/s 263 - when a partner retires from the partnership firm, whatever amount received by the partner over and above his capital account is not liable for capital gain tax - CIT was not correct in coming to the conclusion that the order passed by the A.O. is prejudicial to the interest of the revenue - AT

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  2. Dissolution of partnership - taxability of sum received by a partner - Any amount paid to a partner as his share on dissolution of the partnership firm cannot be...

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  4. Receipt of amount as goodwill on retirement - right of partner in the partnership firm - capital asset u/s 2(14) - extinguishment of such right in the firm - HC...

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  6. When a partner retires from the firm and receives share of amount calculated on the value of partnership asset including goodwill of the firm, there is no transfer of...

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