{"id":4115,"date":"2019-02-27T12:28:08","date_gmt":"2019-02-27T12:28:08","guid":{"rendered":"http:\/\/itatonline.org\/digest\/s-k-ravikumar-v-ito-2019-260-taxman-288-karn-hc\/"},"modified":"2019-10-10T09:54:12","modified_gmt":"2019-10-10T09:54:12","slug":"s-k-ravikumar-v-ito-2019-260-taxman-288-karn-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/s-k-ravikumar-v-ito-2019-260-taxman-288-karn-hc\/","title":{"rendered":"S.K. Ravikumar v. ITO (2019) 260 Taxman 288\/ 413 ITR 456\/ 180 DTR 20\/ 310 CTR 212 (Karn.)(HC)"},"content":{"rendered":"<p>Dismissing the appeal of the assessee the Court held that; two partners had furnished a joint letter wherein they stated that they had contributed said property as their share to capital of partnership firm . Partnership firm had become absolute owner of property since that date. Further, both partners had retired from partnership firm and had also executed a release deed in favour of continuing partners. Accordingly the capital gains arising from sale of property was to be taxed in hands of assessee firm and not in case of retired partners . \u00a0(AY. 2001-02)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 45 (4) : Capital gains \u2013 Firm -Retirement of partners-On contribution the individual property to firm, it is the property of the firm \u2013 Tribunal is justified in assessing the capital gains 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-4115","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-14n","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4115","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=4115"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4115\/revisions"}],"predecessor-version":[{"id":7819,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4115\/revisions\/7819"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=4115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=4115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=4115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}