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Citedby 33 docs - [View All]
Dlf Universal Ltd,, New Delhi vs Assessee on 15 June, 2008
Deputy Commissioner Of Income Tax vs General Electric Co. Plc. on 30 March, 2001
Andhra Networks Limited,, ... vs Assessee on 26 November, 2014
Ali Akbaar Jafari,, Pune vs Department Of Income Tax on 26 February, 2013
G.D. Agarwalla vs Deputy Commissioner Of ... on 7 September, 1995

[Section 45] [Complete Act]
Central Government Act
Section 45(3) in The Income- Tax Act, 1995
(3) 11 The profits or gains arising from the transfer of a capital asset by a person to a firm or other association of persons or body of individuals (not being a company or a co- operative society) in which he is or becomes a partner or member, by way of capital contribution or otherwise, shall be chargeable to tax as his income of the previous year in which such transfer takes place and, for the purposes of section 48, the amount recorded in the books of account of the firm, association or body as the value of the capital asset shall be deemed to be the full value of the consideration received or accruing as a result of the transfer of the capital asset.