Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
Membership-consent thresholds for oppression petitions are satisfied by unchallenged voter-list consents, while unsupported forgery claims require pro...
Taxability of capital gain in firm - revaluation of asset being land held by the partnership firm - money equivalent paid to retiring partners to enhanced portion of the assets re-valued does not constitute capital asset within the meaning of section 2(14) - There was also no transfer of capital asset by way of distribution of capital asset either on dissolution or otherwise within the meaning of section 45(4) r.w.s 2(14)
Taxability of capital gain in firm - revaluation of asset being land held by the partnership firm - money equivalent paid to retiring partners to enhanced portion of the assets re-valued does not constitute capital asset within the meaning of section 2(14) - There was also no transfer of capital asset by way of distribution of capital asset either on dissolution or otherwise within the meaning of section 45(4) r.w.s 2(14)
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
