Introduction of land as capital contribution – Sec.45(3) – sec.43CA

Assessee is LLP engaged in the business of real estate in Maharashtra . The LLP is owner of the land having book value of 10 Cr and said land is shown as stock in trade . Assessee and other 3 parties have decided to form a partnership for development of project on the said land. Assessee will introduced the said land as capital contribution for it book value. Issues : 1. Whether there are any stamp duty implication for introducing the said land at book value as capital contribution in the Firm 2. Whether provisions of SEc. 43CA and Sec.…

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