Retirement Payouts Exceeding Partnership Capital Account Credited Amounts Taxed as Capital Gains.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Computation of Capital gains - amount received on retirement from a partnership - excess paid over and above the sum standing to the credit of the capital account of the Assessee is taxable as as capital gain....