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Allotment of share in assets to retiring partner doesn't amount to transfer for capital gain purpose

June 10, 2019[2019] 105 taxmann.com 255 (Madras)
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IT : On retirement, allotment to retiring partner of his share in assets of partnership firm after deduction of liabilities is not transfer within meaning of section 2(47) so as to assess capital gains under section 45(4)

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