Vesting of assets from a firm to a private limited company is not a transfer under Income Tax Act Section 45(1).

Vesting of assets from a firm to a private limited company is not a transfer under Income Tax Act Section 45(1). https://www.taxtmi.com/highlights?id=29158 Capital gain - taking over of the assets from the firm to the company - it is clear that the vesting of the property in the private limited company is not consequent or incidental to a transfer. There is no transfer of capital assets as contemplated by section 45(1) - HC en-us Wed, 11 May 2016 10:42:20 +0530 Wed, 11 May 2016 10:42:20 +0530 TaxTMI RSS Generator Vesting of assets from a firm to a private limited company is not a transfer under Income Tax Act Section 45(1). https://www.taxtmi.com/highlights?id=29158 Capital gain - taking over of the assets from the firm to the company - it is clear that the vesting of the property in the private limited company is not consequent or incidental to a transfer. There is no transfer of capital assets as contemplated by section 45(1) - HC Highlights Income Tax Wed, 11 May 2016 10:42:20 +0530 https://www.taxtmi.com/highlights?id=29158