ANILKUMAR BHIKHABHAI VIRANI vs DCIT, CIRCLE-1, BHAVNAGAR
Whether amount received by partner on retirement from firm on account of revaluation of assets is exempt under Section 10(2A) of Income Tax Act? --- Held: No. Whether such amount is taxable in the hands of the partner? --- Held: No; taxable in hands of the firm under Section 45(4) of the Act.
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