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Income Tax - Highlights / Catch Notes

Home Highlights September 2012 Year 2012 This

Partnership firm - in the case of dissolution of a firm, only ...

Income Tax

September 2, 2012

Partnership firm - in the case of dissolution of a firm, only the firm is taxable on capital gains on dissolution under Section 45(4) of the Income Tax Act, 1961 and not the partner - HC

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  1. Sale of assets of partnership firm after dissolution – Individual erstwhile partners are liable to compute as Capital Gains under section 45.... - HC

  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...

  3. Capital gain - revaluation of the satellite rights - The revaluation of the assets by the partnership firm would not attract any capital gain - There was no transfer - HC

  4. Reconstitution of partnership firm – liable to capital gains for assets transferred from earlier firm to new firm

  5. Dis-allowance u/s 14A of notional interest paid on loan taken for capital contribution in partnership firm - partnership firm - provisions of section 14A are not...

  6. Capital gains - Conversion of partnership firm into company - exemption - conversion of balance in capital account of a partner into loan - transfer - Section 47A r.w.s...

  7. Partnership firm - Nature of the Certain considerations received after the dissolution of the firm - The appellants as erstwhile partners are liable to pay capital gain...

  8. Capital gain u/s 45(4) in partnership firm on retirement of a partner - dissolution/reconstitution of partnership firm - the provisions of Section 45(4) would not be...

  9. Reconstitution of partnership firm - one partner retired and two were continue - provisions of Section 45(4) is applicable as it amounts to transfer - capital gain is...

  10. Taxability of capital gain in firm - revaluation of asset being land held by the partnership firm - money equivalent paid to retiring partners to enhanced portion of the...

 

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