https://www.taxtmi.com/caselaws?id=28947 The court determined that the excess amount received by the assessee on retirement from partnership firms was not assessable to capital gains tax. The court held that the transaction did not constitute a transfer of any capital asset within the meaning of the Income Tax Act. Referring to relevant case law, the court concluded in favor of the assessee, ruling that the amount received was not subject to capital gains tax. en-us Wed, 21 Jul 1982 00:00:00 +0530 Mon, 08 Mar 2010 17:52:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28947 The court determined that the excess amount received by the assessee on retirement from partnership firms was not assessable to capital gains tax. The court held that the transaction did not constitute a transfer of any capital asset within the meaning of the Income Tax Act. Referring to relevant case law, the court concluded in favor of the assessee, ruling that the amount received was not subject to capital gains tax. Case-Laws Income Tax Wed, 21 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28947