Land Transfer in Partnerships: Section 45(3) Governs Tax Valuation Over Section 50C for Capital Contributions. (3.

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....Addition u/s 50C v/s 45(3) - Capital contribution in the partnership firm by way of transfer of Land (capital assets) by the partner - the consideration in the hand of the partner (present assessee) shall be determined as per the provision of section 45(3) of the Act and not as per the provisions of section 50C. - AT....