[aaykarbhavan] Sum received by retiring partner towards his share capital wasn’t liable to capital gain tax

Sum received by retiring partner towards his share capital wasn't liable to capital gain tax

April 14, 2014[2014] 43 taxmann.com 253 (Hyderabad - Trib.)

IT : Amount received by a partner on dissolution of firm or on his retirement is an amount paid towards his share capital; no element of transfer of interest in partnership asset by retiring partner to continuing partner can be said to be involved

 

Regards

Prarthana Jalan

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