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Capiatl gains-chargeability

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 March 2013 can we say that if a firm dissolves and transfers its asset to a partner in consideration of his capital it is not the same as liquidation and hence it shd be not covered by 46-distribution of assets on liquidation by co.
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CA. PIYUSH GOEL

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CA. PIYUSH GOEL (Expert)
02 March 2013 distribution of capital asset on the dissolution of partnership firm or otherwise is goverened by the provisions of sec. 45(4) not by the sec. 46 ( it deals with the liquidation of companies).
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