{"id":3740,"date":"2019-01-20T13:42:16","date_gmt":"2019-01-20T13:42:16","guid":{"rendered":"http:\/\/itatonline.org\/digest\/g-h-reddy-and-associates-v-acit-2018-409-itr-514-mad-hc\/"},"modified":"2021-07-14T18:54:34","modified_gmt":"2021-07-14T13:24:34","slug":"g-h-reddy-and-associates-v-acit-2018-409-itr-514-mad-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/g-h-reddy-and-associates-v-acit-2018-409-itr-514-mad-hc\/","title":{"rendered":"G. H. Reddy And Associates  v. ACIT (2018) 409 ITR 514 (Mad) (HC)  Editorial: SLP of revenue s dismissed ACT v G. H. Reddy And Associates ( 2019) 418 ITR 11 (St)\/ ( 2020 ) 274 Taxman 283 (SC)"},"content":{"rendered":"<p>Allowing the appeal of the assessee the Court held that retirement of some partners and induction of new partners and there was\u00a0 no revaluation of assets.\u00a0 Businesses continued accordingly the Court held that the\u00a0 firm reconstituted and not dissolved. Firm is not liable to pay capital gains tax . Order of Tribunal is reversed and order of CIT(A) is affirmed ( AY.2002-03)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 45(4) : Capital gains &#8211; Distribution of capital asset &#8211; Dissolution of firm -Change in constitution of firm -Retirement of some partners and induction of new partners \u2014 No revaluation of assets \u2014 Businesses continued \u2014 Firm reconstituted and not dissolved-Not liable to pay capital gains tax .  [ S. 45,187(2) ]<\/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-3740","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-Yk","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3740","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=3740"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3740\/revisions"}],"predecessor-version":[{"id":20208,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3740\/revisions\/20208"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=3740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=3740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=3740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}