The Bombay High Court on March 26th earlier this year ruled that when new Partner brings Cash by way of Capital Contribution and Retiring Partners take Cash and Retire, No Capital Gain happens. The assessee Electroplast Engineers, a partnership firm, had filed the return of income for the assessment year 2010-2011. The assessee was engaged […]
The post No Capital Gain when new Partner bring Cash by way of Capital Contribution and Retiring Partners take Cash and Retire: Bombay HC appeared first on Taxscan | Simplifying Tax Laws.
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