2000 (7) TMI 221

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.... 1961 Special Bench was constituted to consider the following questions:-- "(a) Whether, a firm is assessable to tax in respect of capital gains on the distribution of assets between the partners on the dissolution of the firm in view of section 45(4) Without there being a corresponding amendment in the definition of transfer given in section 2(47) of Income-tax Act, 1961?" "(b) Whether for ....

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.... "(d) Whether, a business undertaking as a going concern is a capital asset in itself and whether such capital asset can be valued on global valuation method?" 2. The learned counsel for the assessee, Shri H.G. Malik, vide letter dated7-7-2000submitted that to resolve the dispute assessee resorted to the Kar Vivad Samadhani Scheme. Certified copy of the form of certificate for full and final s....