Karnataka High Court
The Commissioner Of Income Tax vs Smt Anitha Rajagopal Rao on 11 January, 2011
Bench: N.Kumar, Ravi Malimath
Pye paca yma Sevan al 2s peed ES ae encencccen wi i =
pa indo s x Bonet = = ae <e soee vas = ms) = 3 oe r & BF 3 2 ae 4 Pa & Ny 3 i ;
e :
2:
hs retirement. Assuming that the retiring p tyes passed in GTA No.1/Bang/2005 & OTA N6.2/Bang:_ /2005, reapectively, for the asseasment year. 1967-08.
oye image appeals, coming on for.orders,. this day, 23 These tare. appeals are preferred by the revenue challenging the order paseed by the tribunal which held that the retiring partrier gets the value of his share in the partnership assets less his labilities at the time of 'received Jess. than what was his due itssif waa somietoing thet he had transferred to che continuing . pertiers within the meaning of Tranafer of Property for # ~ Purposes of Gift Tax Act, 1958 or that the git leble to » Suit Tax cannet be accepted. It is the case of mere _aajusinents of rights between retiring partner and the ge 7 eg rpg 44 % a a. % re " SRT pertmer mi the aseets of the partnershin 272 there bg . 4 een anam > an duane ; gee < « kos "iets 18 No tiement of transfer of intereat by the retiring na K we a . wo gedsed Se ot ae ae et 7 . bond a * ihe? et a pot in be ; : EE * : u : - ey ; ing ud a & wt wk es CS ie . few a % oe get ea nad oe : bas bets ae ta hawt _ el i ef Poast quel f i ey it oo . . ey g4 ; ry ' s ~ oe st ed oo : 2 4 a phe bay sy oe 7) s . syed Aad ¥ ; . o "a dasa eh My mg Qo: " ; au eo we ee pod . Fong ee ead pos! he sito a a an wo shes hued . ae se ; .
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