https://www.taxtmi.com/article/detailed?id=8245 Where a partner contributes a capital asset to a partnership, Section 45(3) deems the value recorded in the firm's books to be the full value of consideration for the transferor if the contribution is a genuine capital introduction; if the transfer is a sham to evade tax, asset-based deeming under Section 50C (immovable property) or Section 50CA (unquoted shares) may determine full value. Section 56(2)(x) addresses recipient taxation for transfers below stamp duty or prescribed fair market value but generally does not apply to ordinary partnership contributions in the absence of a specific valuation mechanism. en-us Tue, 20 Nov 2018 18:41:21 +0530 Tue, 20 Nov 2018 18:41:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8245 Where a partner contributes a capital asset to a partnership, Section 45(3) deems the value recorded in the firm's books to be the full value of consideration for the transferor if the contribution is a genuine capital introduction; if the transfer is a sham to evade tax, asset-based deeming under Section 50C (immovable property) or Section 50CA (unquoted shares) may determine full value. Section 56(2)(x) addresses recipient taxation for transfers below stamp duty or prescribed fair market value but generally does not apply to ordinary partnership contributions in the absence of a specific valuation mechanism. Articles Income Tax Tue, 20 Nov 2018 18:41:21 +0530 https://www.taxtmi.com/article/detailed?id=8245