{"id":18498,"date":"2021-05-22T17:29:54","date_gmt":"2021-05-22T11:59:54","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=18498"},"modified":"2021-05-29T14:25:34","modified_gmt":"2021-05-29T08:55:34","slug":"reconstitution-of-firm-u-s-9b-454-48","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/reconstitution-of-firm-u-s-9b-454-48\/","title":{"rendered":"When there is change in profit sharing ratio whether provision of   section 9B  read with S.45(4) and 48 of the Act is attracted  ?"},"content":{"rendered":"<p>1. Where there is only change in profit or loss sharing ratio of existing partners and no change in partners, will it get hit by section 9B?<\/p>\n<p>2. Where there is only change in sharing ratio of existing partners in the assets and liabilities of the firm without any change in profit or loss sharing ratio, will it get hit by section 9B?<\/p>\n<p>3 Where there are both sharing changes as above among existing partners ,will it get hit by section 9B.<\/p>\n<p>In all above cases no one is receiving any capital assets or stock in trade and same partners continue as before. There is no revaluation of any assets. There is no tax planning involved.<\/p>\n<p>Further in a genuine case where a family member is admitted in family business , would section 9B get attracted .<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[33],"qa_category":[23],"qa_tag":[214,183],"class_list":["post-18498","qa","type-qa","status-publish","hentry","qa_expert-advocate-shashi-ashok-bekal","qa_category-income-tax","qa_tag-change-in-profit-sharing-ratio","qa_tag-reconstitution-of-partnership"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/18498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=18498"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=18498"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=18498"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=18498"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=18498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}