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Sec. 54EC exemption available on capital gains arising from sale of client relationships & goodwill

June 14, 2019[2019] 106 taxmann.com 13 (Delhi - Trib.)/[2019] 177 ITD 1 (Delhi - Trib.)
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IT: Where assessee partnership firm of Chartered Accountancy invested capital gains from sale of its client relationships and goodwill pertaining to its business of internal audit and risk consultancy (IARC) practice in specified bonds, assessee would be eligible to exemption under section 54EC

IT: Where supplementary partnership deed specifically mentioned about payment of bonus by assessee partnership firm to partners and also specified exact amount of bonus payable to partners, thus, payment of bonus made to partners was in accordance with partnership deed and authorised by it, same could not be disallowed under section 40(b)

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