Assessee is  a partnership firm.  During course of assessment proceedings, Assessing Officer called upon assessee to furnish necessary capital account of partners and explain substantial increase in partners capital account. Assessee could not substantiate increase in capital account of partners with necessary evidences, entire capital account was treated as unexplained credit and brought to tax under section 68. On appeal deleted the addition under section 68 and invoked section. 45(4) of the Act and held that   revaluation of asset held by partnership firm and crediting amount of said revaluation to partners’ capital account was a transfer which fell under section 45(4) and any profit or gain arising from transfer needed to be taxed in hands of assessee firm. On appeal the Tribunal held that  pprovsion of Section 45(4) is applicable  however, fair market value fixed by stamp duty value authorities should be taken as deemed full value of consideration for purpose of section 48  of the Act. (AY. 2018-19)