Tag Archives: Section 45(4)

No Tax on Transfer of Asset by Firm without consideration & Without ” dissolution ” “

Facts of the case The assessee, a partnership firm .The assessee is engaged in the business of manufacturing and trading of ‘pesticides’ and assessee holds shares of United Phosphorus Ltd (UPL) (19,20,160 shares) and shares of United Enterprises Ltd (UEL) (1,92,016 shares). .The assessee transferred the said shares to M/s. Nerka Chemicals Private Limited (NCPL)… Read More »