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Retiring Partner's Share Based on Partnership Assets, Including Goodwill, Not Taxed as Capital Gains u/s 45.

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....When a partner retires from the firm and receives share of amount calculated on the value of partnership asset including goodwill of the firm, there is no transfer of interest of the partner in the goodwill and no part of the amount received is exigible as capital gain u/s 45 - AT....

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