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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.

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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