{"id":12529,"date":"2020-10-04T13:21:16","date_gmt":"2020-10-04T13:21:16","guid":{"rendered":"https:\/\/itatonline.org\/digest\/acit-v-amartara-p-ltd-2020-78-itr-46-sn-mumtrib-2\/"},"modified":"2020-10-04T13:21:16","modified_gmt":"2020-10-04T13:21:16","slug":"acit-v-amartara-p-ltd-2020-78-itr-46-sn-mumtrib-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/acit-v-amartara-p-ltd-2020-78-itr-46-sn-mumtrib-2\/","title":{"rendered":"ACIT v. Amartara P. Ltd. (2020) 78 ITR 46 (SN) (Mum)(Trib)"},"content":{"rendered":"<p>On appeal, the Tribunal held that S.\u00a045(3)\u00a0of the Act comes into operation only in special cases of transfer between a partnership and its partners and in such circumstances, the amount recorded in the books of account of the firm shall be taken as full value of consideration, since the Act provides for deeming consideration to be adopted for the purpose of S.\u00a048 (ie S. 45(3) .Accordingly \u00a0\u00a0in case of transfer from partner to partnership firm),\u00a0another deeming fiction provided by way of S. \u00a050C\u00a0of the Act cannot be extended to compute the deemed full value of consideration. (AY.2010-11, 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 45(3) : Capital gains &#8211; Transfer of capital asset to firm  &#8211;  Transfer of capital asset by Partner to Firm as capital contribution &#8211; Amount recorded in books of account of Firm deemed to be full value of consideration &#8211; One deeming provision  cannot be extended by importing another deeming provision [S. 48 , 50C].<\/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-12529","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3g5","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12529","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=12529"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12529\/revisions"}],"predecessor-version":[{"id":12530,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12529\/revisions\/12530"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=12529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=12529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=12529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}