High Court: Section 45(4) of Income Tax Act doesn't apply to partners' retirement and asset share in firm dissolution. https://www.taxtmi.com/highlights?id=49549 Capital gain u/s 45(4) in partnership firm on retirement of a partner - dissolution/reconstitution of partnership firm - the provisions of Section 45(4) would not be attracted on the retirement of the two partners and consequential allotment of their share in the assets in the Assessee Firm - HC en-us Mon, 30 Sep 2019 09:51:31 +0530 Mon, 30 Sep 2019 09:51:31 +0530 TaxTMI RSS Generator High Court: Section 45(4) of Income Tax Act doesn't apply to partners' retirement and asset share in firm dissolution. https://www.taxtmi.com/highlights?id=49549 Capital gain u/s 45(4) in partnership firm on retirement of a partner - dissolution/reconstitution of partnership firm - the provisions of Section 45(4) would not be attracted on the retirement of the two partners and consequential allotment of their share in the assets in the Assessee Firm - HC Highlights Income Tax Mon, 30 Sep 2019 09:51:31 +0530 https://www.taxtmi.com/highlights?id=49549