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1 - 10 of 31 (0.34 seconds)Section 147 in The Income Tax Act, 1961 [Entire Act]
Section 148 in The Income Tax Act, 1961 [Entire Act]
Section 45 in The Income Tax Act, 1961 [Entire Act]
Section 132 in The Income Tax Act, 1961 [Entire Act]
Section 158BC in The Income Tax Act, 1961 [Entire Act]
Section 153C in The Income Tax Act, 1961 [Entire Act]
Commissioner Of Income Tax-I vs Champakbhai Mohanbhai Patel on 4 October, 2016
CIT v.
MohanbhaiPamabhai (1987) 165 ITR 166.
Prashant S. Joshi vs The Income-Tax Officer Ward 19(2)(4 on 22 February, 2010
9. Thus, we find that the amount received by a partner on his retirement
from the partnership firm has been held to be not taxable. Honourable Courts
have held that there is no element of transfer and therefore, the amounts
received by the retiring partner does not attract capital gains. The Honourable
Bombay High Court in the case of Prashant S. Joshi (Supra) has categorically
stated that the amounts received by the retiring partner are neither chargeable
to tax under section 28(iv) nor under section 28(v). Therefore, the findings
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Shri Rajul Bhargava, Indore & otr.