Tag Archives: gift can be made only by the living / natural person

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

By | November 22, 2016

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 »