https://www.taxtmi.com/highlights?id=48406 Capital gain - cost of acquisition of assets when partnership succeeded to company - Section 49 amended after filing of return - a new tax liability cannot be created by a subsequent amendment in respect of a transaction as well as the return of income filed when such law was not in the Statute book - cost of acquisition will be the value at which assets was booked at time of succession not the cost incurred by partnership firm en-us Mon, 05 Aug 2019 07:51:18 +0530 Mon, 05 Aug 2019 07:51:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=48406 Capital gain - cost of acquisition of assets when partnership succeeded to company - Section 49 amended after filing of return - a new tax liability cannot be created by a subsequent amendment in respect of a transaction as well as the return of income filed when such law was not in the Statute book - cost of acquisition will be the value at which assets was booked at time of succession not the cost incurred by partnership firm Highlights Income Tax Mon, 05 Aug 2019 07:51:18 +0530 https://www.taxtmi.com/highlights?id=48406