Capital Gains Not Applicable on AOP to Company Conversion Due to Lack of Transferor and Transferee u/s 45(1).

Capital Gains Not Applicable on AOP to Company Conversion Due to Lack of Transferor and Transferee u/s 45(1). https://www.taxtmi.com/highlights?id=47552 Addition on account of capital gain - conversion of AOP/trust in company - transfer of the assets u/s 2(47) - till the time of conversion, the AOP remained in existence and the moment conversion took place, the company came into existence - the AOP and company never remained in existence simultaneously - transfer of a capital asset u/s 45(1) is possible only when there is a transferor and the transferee - no capital gain en-us Sat, 29 Jun 2019 09:38:11 +0530 Sat, 29 Jun 2019 09:38:11 +0530 TaxTMI RSS Generator Capital Gains Not Applicable on AOP to Company Conversion Due to Lack of Transferor and Transferee u/s 45(1). https://www.taxtmi.com/highlights?id=47552 Addition on account of capital gain - conversion of AOP/trust in company - transfer of the assets u/s 2(47) - till the time of conversion, the AOP remained in existence and the moment conversion took place, the company came into existence - the AOP and company never remained in existence simultaneously - transfer of a capital asset u/s 45(1) is possible only when there is a transferor and the transferee - no capital gain Highlights Income Tax Sat, 29 Jun 2019 09:38:11 +0530 https://www.taxtmi.com/highlights?id=47552