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LLP

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(Querist)
07 November 2019 There are two partners in an LLP which had been incorporated in 2018. The LLP had acquired a property (Capital Asset, say Land) in its name.

Now in 2019, two new partners are introduced to LLP and after few months, the old partners retire. Would it amount to transfer of property or not in such a case?
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Aashok Kumar Sharma

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Aashok Kumar Sharma (Expert)
27 May 2020 No it would not amount to transfer of property.
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