https://www.taxtmi.com/caselaws?id=279317 The Tribunal allowed the assessee's appeal regarding the addition in Long Term Capital Gain, holding that Section 45(3) should not be overridden by Section 50C. The Tribunal emphasized that the specific provisions of Section 45(3) govern transfers between partnership firms and partners. Additionally, the Tribunal dismissed the revenue's appeal on disallowance of expenses under Section 14A, noting that disallowance cannot be made in the absence of exempt income. The decision was pronounced on 29th December 2017. en-us Fri, 29 Dec 2017 00:00:00 +0530 Wed, 13 Mar 2019 07:27:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279317 The Tribunal allowed the assessee's appeal regarding the addition in Long Term Capital Gain, holding that Section 45(3) should not be overridden by Section 50C. The Tribunal emphasized that the specific provisions of Section 45(3) govern transfers between partnership firms and partners. Additionally, the Tribunal dismissed the revenue's appeal on disallowance of expenses under Section 14A, noting that disallowance cannot be made in the absence of exempt income. The decision was pronounced on 29th December 2017. Case-Laws Income Tax Fri, 29 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279317