{"id":10130,"date":"2020-02-27T12:01:30","date_gmt":"2020-02-27T12:01:30","guid":{"rendered":"http:\/\/itatonline.org\/digest\/national-company-v-acit-2019-178-dtr-305-mad-hc\/"},"modified":"2020-02-27T12:01:30","modified_gmt":"2020-02-27T12:01:30","slug":"national-company-v-acit-2019-178-dtr-305-mad-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/national-company-v-acit-2019-178-dtr-305-mad-hc\/","title":{"rendered":"National Company v. ACIT ( 2019) 178 DTR 305 (Mad) (HC)"},"content":{"rendered":"<p>Allowing the appeal of the assessee the Court held that,\u00a0 on retirement the amount received by the partners\u00a0 does not represent consideration in lieu of relinquishment of his interest in the partnership asset\u00a0 .Accordingly the addition\u00a0 cannot be made in the assessment of the firm by invoking S.45(4) of the Act .\u00a0 on the facts firm continued with other partners . (TA No. 365\/ 366 of 2019 dt 8 -04 -2019) (AY. 2004 -05)\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.45(4) :  Capital gains &#8211; Distribution of capital asset -Retirement- On retirement the amount received does not represent consideration in lieu of relinquishment of his interest in the partnership asset \u2013 Addition  cannot be made in the assessment of the firm [ S.45 ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10130","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2Do","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10130","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=10130"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10130\/revisions"}],"predecessor-version":[{"id":10131,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10130\/revisions\/10131"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=10130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=10130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=10130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}