AMENDMENT OF THE SEC. 56 BY RECENT FINANCE BILL

[Sumit, FCA, Rjt.]

The recent finance bill, proposed by Shri Mukherjee, seeks to amed sec. 56, so as to include word "Capital Asset", in the definition of "Property".
Here, my doubt is, whether it should born status of "Capital Asset", with the transferor or in the hands of transferee, or both ?

[Pankaj]

i believe in the hands of the transferee