https://www.taxtmi.com/caselaws?id=206205 Retirement from a partnership firm that conveys an assignable interest in partnership assets by deed constitutes a transfer of the retiring partner's interest under the statutory definition, triggering capital gains liability. The lump-sum payment characterized as consideration for assigning or relinquishing the partner's share and rights in the partnership and its assets effects a transfer of capital asset; consequently the payment is chargeable to tax as capital gain. en-us Thu, 09 Sep 2010 00:00:00 +0530 Fri, 30 Jan 2026 14:10:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206205 Retirement from a partnership firm that conveys an assignable interest in partnership assets by deed constitutes a transfer of the retiring partner's interest under the statutory definition, triggering capital gains liability. The lump-sum payment characterized as consideration for assigning or relinquishing the partner's share and rights in the partnership and its assets effects a transfer of capital asset; consequently the payment is chargeable to tax as capital gain. Case-Laws Income Tax Thu, 09 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206205