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Sec45(4)

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(Querist)
30 January 2013 On dissolution of firm/partnership, stock in trade are given to partners, then it will attract d criteria of sec 45(4),valuation? As Stock is not generally consider capital asset.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
30 January 2013 Transfer of Stock in trade will result into business income. 45(4) has application in case of Capital assets.
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