THE ITO, WARD-2, THODUPUZHA, THODUPUZHA vs. SRI.MARTIN JOHNY, KOTHAMANGALAM

In the result, the appeal of the assessee is partly allowed and the appeals

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

section 45(3) which is the only enabling provision to charge capital gains as income of the assessee in respect of transfer of capital asset to the firm and specifically the deeming provision therein to adopt the amount recorded in books of the firm as full value of consideration. According to the Ld. AR, the Apex Court's judgment

THE ACIT, CIR-1(1), ERNAKULAM, ERNAKULAM vs. SRI.JOSE MATHEW, M/S.E.V.MTHAI & SONS, KOTHAMANGALAM

In the result, the appeal of the assessee is partly allowed and the appeals