Court Rules Share Transfer to Partners Not Tax Avoidance; Section 45(4) Income Tax Act Not Applicable. https://www.taxtmi.com/highlights?id=34701 Capital gain - partnership firm - conversion from investment into stock in trade of shareholding - Firm transferred the shares as loss to partners and adjusted its profit - partners transferred the shares at profit and adjusted against their loss - tax avoidance or not - No additions - Section 45(4) is not attracted - HC en-us Mon, 08 May 2017 12:47:38 +0530 Mon, 08 May 2017 12:47:38 +0530 TaxTMI RSS Generator Court Rules Share Transfer to Partners Not Tax Avoidance; Section 45(4) Income Tax Act Not Applicable. https://www.taxtmi.com/highlights?id=34701 Capital gain - partnership firm - conversion from investment into stock in trade of shareholding - Firm transferred the shares as loss to partners and adjusted its profit - partners transferred the shares at profit and adjusted against their loss - tax avoidance or not - No additions - Section 45(4) is not attracted - HC Highlights Income Tax Mon, 08 May 2017 12:47:38 +0530 https://www.taxtmi.com/highlights?id=34701