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Capital gain on partnership firm

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(Querist)
30 June 2014 Whether capital gain tax will be imposed if a partnership firm get dissolved but business is takenover by one of partner i.e one of old partner surrender hi interest in favour of another partner ?
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CMA Nishad Patkar

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CMA Nishad Patkar (Expert)
01 July 2014 Yes, it would be in the hands of Firm in the year in which firm is dissolved.
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Rupesh Jain

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Rupesh Jain (Expert)
01 July 2014 if assets sold by the firm then gain arise.
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