The Income Tax Appellate Tribunal (ITAT) held that a retiring partner took only money towards the value of his share on retirement and when there was no distribution of capital assets going to the partners, there was no transfer of capital asset and consequently, no profits or gain was chargeable under Section 45 (4) of […]
from Taxscan | Simplifying Tax Laws https://ift.tt/2ShSZNb
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