https://www.taxtmi.com/caselaws?id=59065 Distribution of partnership assets on dissolution, including by auction among the partners under a consent arrangement, was treated as a working out of partners' rights rather than a transfer inter vivos. The amount received by each partner represented his or her share in the realised assets, so it fell within the exception for distribution of capital assets on dissolution and did not attract capital gains tax. The addition was therefore deleted and the Revenue's appeals failed. en-us Sun, 27 Mar 1988 00:00:00 +0530 Thu, 23 Dec 2010 17:27:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59065 Distribution of partnership assets on dissolution, including by auction among the partners under a consent arrangement, was treated as a working out of partners' rights rather than a transfer inter vivos. The amount received by each partner represented his or her share in the realised assets, so it fell within the exception for distribution of capital assets on dissolution and did not attract capital gains tax. The addition was therefore deleted and the Revenue's appeals failed. Case-Laws Income Tax Sun, 27 Mar 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59065