Thursday, September 13, 2018

No Cap Gain exemption if allotment of shares not made before end of year in which succession took place

IT: Allotment of shares of company which succeeds to business of partnership firm has to be complied with before end of relevant previous year in which such succession of business takes place. Providing for some period for completing said process of allotment of shares is also reasonable and necessary.

from www.taxmann.com Latest Case Laws https://ift.tt/2MtRXHU
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