Tag Archives: IT REFERENCE NO. 225 OF 1999

No capital gain tax on capital contribution made in partnership firm by Partners

By | February 9, 2017

Facts of the case On 2nd May, 1979, the applicant assessee converted certain plots of land and shares hitherto held as investments into its stock in trade. On 8th May, 1979, the applicant assessee entered into the partnership firm with six others to trade in land, stock and shares by executing a partnership deed. The… Read More »