https://www.taxtmi.com/caselaws?id=69886 The Tribunal upheld the CIT(A)'s decision, confirming that Section 45(4) of the Income Tax Act was inapplicable as there was no dissolution of the firm, only a reconstitution. The retirement of partners did not result in a transfer of property, and the firm continued its business with the remaining partners. The appeal by the Revenue was dismissed. en-us Mon, 31 Dec 2001 00:00:00 +0530 Tue, 12 Apr 2011 15:54:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69886 The Tribunal upheld the CIT(A)'s decision, confirming that Section 45(4) of the Income Tax Act was inapplicable as there was no dissolution of the firm, only a reconstitution. The retirement of partners did not result in a transfer of property, and the firm continued its business with the remaining partners. The appeal by the Revenue was dismissed. Case-Laws Income Tax Mon, 31 Dec 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69886