Tuesday, August 12, 2014

[aaykarbhavan] Sale of land by bogus firm which was introduced as capital contribution shall be taxable in hands of partner only




Sale of land by bogus firm which was introduced as capital contribution shall be taxable in hands of partner only

August 12, 2014[2014] 47 taxmann.com 292 (Karnataka)
IT: Partnership being non-genuine and land being shown as capital contribution by partners, profit on sale of said land after their fake retirement was to be treated as capital gains in hands of individual assessees
 
Regards
Prarthana Jalan


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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>


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