Land Valuation in Partnership: Section 45(3) Applies, but Excessive Payment Rule in Section 40A(2)(a) Also Relevant.

Land Valuation in Partnership: Section 45(3) Applies, but Excessive Payment Rule in Section 40A(2)(a) Also Relevant. https://www.taxtmi.com/highlights?id=38608 Valuation of land acquired from the partners in the partnership firm - provisions of sec. 45(3) are applicable in the hands of partners - but the same does not bar application of sec. 40A(2)(a) of the Act. - AT en-us Tue, 27 Mar 2018 09:22:07 +0530 Tue, 27 Mar 2018 09:22:07 +0530 TaxTMI RSS Generator Land Valuation in Partnership: Section 45(3) Applies, but Excessive Payment Rule in Section 40A(2)(a) Also Relevant. https://www.taxtmi.com/highlights?id=38608 Valuation of land acquired from the partners in the partnership firm - provisions of sec. 45(3) are applicable in the hands of partners - but the same does not bar application of sec. 40A(2)(a) of the Act. - AT Highlights Income Tax Tue, 27 Mar 2018 09:22:07 +0530 https://www.taxtmi.com/highlights?id=38608