The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the conversion of a company into an LLP constitutes a “transfer” for the purpose of the Income Tax Act, 1961. The Tribunal further clarified that if the conditions of Section 47 (xiiib) of the Income Tax Act are not satisfied, […]
The post Conversion of Company to LLP is ‘Transfer’: ITAT upholds Income Tax Liability [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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