Supreme Court clarifies Capital Gains Tax on Asset Revaluation in Partnership Firms: Commissioner of Income Tax vs. Mansukh Dyeing and Printing Mills (24 November 2022)

/ Capital Gains Tax, Income Tax Act, 1961, Income Tax Act, 1961 with Section 45(4), Judges, M.M. Sundresh, M.R. Shah

Supreme Court on Capital Gains Tax on Revaluation of Assets in Partnership Firms Date of the Judgment: 24 November 2022 Citation: 2022 INSC 1121 Judges: M.R. Shah, J. and M.M. Sundresh, J. Can a partnership firm be taxed for capital gains when its assets are revalued and the increased value is credited to the partners’ […]

Supreme Court clarifies Capital Gains Tax on Asset Revaluation in Partnership Firms: Commissioner of Income Tax vs. Mansukh Dyeing and Printing Mills (24 November 2022) Read Post »