A two-judge bench of the Madras High Court has held that the properties obtained by the retiring partners of a Firm through family arrangement do not amount to ‘transfer’ for the purpose of imposing capital gain, and therefore, the reconstitution of the firm will not attract Section 45(4) of the Income Tax Act, 1961. The […]
The post Properties obtained by Retiring Partners through Family Arrangement not attract Capital Gain Tax: Madras HC [Read Judgment] appeared first on Taxscan | Simplifying Tax Laws.
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