{"id":29061,"date":"2022-08-10T12:00:33","date_gmt":"2022-08-10T06:30:33","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=29061"},"modified":"2022-08-11T13:25:17","modified_gmt":"2022-08-11T07:55:17","slug":"applicability-of-section-9b-and-454","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/applicability-of-section-9b-and-454\/","title":{"rendered":"APPLICABILITY OF SECTION 9B AND 45(4)"},"content":{"rendered":"<p>There is a partnership firm having partners F (father), S1 (Elder son) and S2 (Younger son) carrying a hotel business.<br \/>\nEach partner is having an equal ratio in firm (i.e. 1\/3 each).<\/p>\n<p>On 01\/04\/2021 Partner S1 retired from the firm and his balance in capital A\/c is transferred to Unsecured Loan A\/c. Neither the\u00a0 excess payment of cash is made nor any immovable property is transferred to retiring partner.<\/p>\n<p>Remaining partners (i.e. F and S2) are now sharing an equal ratio in the reconstituted Partnership Firm.<\/p>\n<p>Query: Whether the section 9B and 45(4) are applicable in the given case?<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[33],"qa_category":[23],"qa_tag":[24,380,546],"class_list":["post-29061","qa","type-qa","status-publish","hentry","qa_expert-advocate-shashi-ashok-bekal","qa_category-income-tax","qa_tag-capital-gains","qa_tag-partnership-firm","qa_tag-retirement-of-partner"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/29061","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=29061"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=29061"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=29061"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=29061"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=29061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}