https://www.taxtmi.com/caselaws?id=36289 The High Court held that the receipt of money by a retiring partner from the firm did not involve the transfer of a capital asset and was not chargeable to capital gains tax. The Court relied on relevant sections of the Income Tax Act, as well as precedents from the Supreme Court and other High Courts, to support its decision. The judgment favored the assessee, with each party bearing its own costs. en-us Thu, 05 Jun 1980 00:00:00 +0530 Sat, 20 Mar 2010 14:13:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36289 The High Court held that the receipt of money by a retiring partner from the firm did not involve the transfer of a capital asset and was not chargeable to capital gains tax. The Court relied on relevant sections of the Income Tax Act, as well as precedents from the Supreme Court and other High Courts, to support its decision. The judgment favored the assessee, with each party bearing its own costs. Case-Laws Income Tax Thu, 05 Jun 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36289