deduction u/s 10AA of the Act, upon conversion of its status i.e. conversion of
proprietorship firm into partnership firm.
ITA No.1840 ... upon the conversion of its status i.e.
proprietorship conversion into partnership firm?
iv. Whether the assessee can be denied the benefit of deduction under
books of
accounts before 30.9.2013 i.e. before the conversion of proprietorship
concern into company. Later on this amount was transferred as
unsecured loan ... unsecured loan in balance sheet of the proprietorship firm
before the conversion of proprietorship concern into company on
30.09.2013 cannot be considered as legal because
purchaser of unit or a successor pursuant to
dissolution/slump sale, conversion of proprietorship /firm into
company etc. shall be able to claim
outsiders shall not be allowed in the
partnership firm(s).
3. Conversion of proprietorship/partnership
firm into Pvt. Ltd. or public ... increase. Serial no. 3 of the said decisions
prohibits the conversion of proprietorship and
partnership into Private Limited and Public Limited
Companies
Proprietor
business was closed. It is not a case of conversion of
Proprietorship Firm into Company. No documents have
been submitted that Proprietorship Firm sold ... been
explained by the petitioner by submitting all relevant
documents including conversion of Proprietorship Firm
into Private Limited Company with transfer of its
assets
ITAT is correct in holding that on the conversion of proprietorship firm into partnership firm there was no transfer of Plant & Machinery ... firm, wherein two persons were inducted as partners. On the conversion of the proprietorship firm into a partnership firm there was no transfer of plant
Addl.C.I.T. Ltu, Mumbai vs Acc Ltd., Mumbai on 28 February, 2023
IN
Delhi and Corporation Bank, Haus Kaus, New Delhi which demonstrates conversion of erstwhile proprietorship concern into a private limited company on 31.7.99 and enhancement ... account as on the day immediately preceding the date of conversion. The sole proprietorship firm shall cease to exist upon conversion of the firm
depreciation on
intangible assets vested with the assessee company on conversion of
proprietorship business into private limited company in the facts and
circumstance ... planning and
design consultancy. This private limited company was formed by
conversion of proprietorship business of M/s. Shilpa Architects and
Interior Designers
recorded an event
such as Amalgamation, Acquisition,
Merger, Conversion of Proprietorship
into Company, Conversion of Firm into
LLP, Conversion of Firm/LLP into
Company ... Single Multiple Yes
HUF
9 Demerger Single Multiple Yes
Conversion of
10 Proprietorship to Single Single Yes
Company
Conversion of
11 Single Single Yes
Firm
