ITR reporting treatment of Capital transferred by will to a new partner (Grand Son)

Jitender Singh Rawat (Advocate) (78 Points)

18 January 2022  
Hello everyone.

What is an ITR reporting treatment for "Capital Transferred" by will from Grand Mother to Grand Son who files his return U/s 44ADA?

In the above case Grand Mother being a partner in an audited firm transferred her capital amount to her Grand Son and introduced as a partner.