Provisions of Sec. 56(2)(viia) cannot be made applicable to capital contribution of a partner made in the firm

INCOME TAX : Where consideration for capital contribution made by a partner in a firm is share in profits of firm during firm's subsistence and share in assets after firm's dissolution, consideration was 'indeterminate' and as such computation provisions of section 48 would fail and hence, no capital gain would arise thereon; further, when consideration is indeterminate, computation provisions of section 56(2)(viia) to determine inadequacy or otherwise of 'such consideration' also fail and provi

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