Capital Gains Tax: Conversion of Private Ltd Company to LLP Excludes Goodwill from Accumulated Profits, No Clause Breach.

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....Capital gain on conversion of a Private Limited Company into LLP - Addition on account of asset being goodwill brought into books of accounts - the condition prescribed relates to the balance of accumulated profits as on date of conversion out of which amount is paid to the partner, however, since the accumulated profits did not include the amount of Goodwill in the books of the predecessor company, there cannot be said to be any violation of clause (f) either. - AT....