Cash recevied on liquidation of firm whether taxable or not?

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no
51 Points Posted on 30 June 2014
Cash Recevied on Liquidation of firm whether taxable or not?

 
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On 30 June 2014 at 21:27 Report
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Student as well as Self-employed
3710 Points Posted on 30 June 2014
i think cash or other assets received on liquidation is deemed to be capital gains.
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On 30 June 2014 at 22:38
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b
60 Points Posted on 01 July 2014

Cash received on Liuidation of Firm is not Taxable because it is recaputer of Capital and Goodwill for which Cost of acquisition can not be ascertined, also refer B C Srinivasan Setty Case.

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On 01 July 2014 at 22:06
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Student as well as Self-employed
3710 Points Posted on 01 July 2014
https://www.indiataxes.com/Information/incometax/contents/capitalgains/specialcases/cap_spe_liq.htm
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On 01 July 2014 at 23:17

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