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Sec45(4) (Income Tax)

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This query is : Resolved


( Author )
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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