Assessee, engaged in construction activities, had filed its return of income after being converted from a private company to LLP.  Assessing Officer  made additions under section 45 on account of asset being goodwill brought into books of account after conversion holding that assessee was in violation of clauses (c) and (f) of section 47(xiiib).  Clause (c) refers that no direct or indirect benefit should be passed on to shareholders in any form or manner, other than by way of share of profit and capital contribution in LLP and said clause operates only till date of conversion. Tribunal held that  on perusal of pre-conversion and post-conversion balance sheets of assessee, it was clear that shareholders had not received any such consideration or benefit thus, assessee was not in violation of clause (c).  Clause (f) refers to amount paid to partner of LLP, out of balance of accumulated profits standing in accounts of company on date of conversion. Since commercial expediency explained by assessee had not been controverted by Assessing Officer and accumulated profits did not include amount of goodwill in books of predecessor company, there could not be any violation of clause (f) either.  Additions made by Assessing Officer on mere presumption could not be sustained and deleted. (AY. 2016-17)