Addition u/s 45 unsustainable as commercial expediency not contravened

ITO Vs Brizeal Realtors and Developers LLP (ITAT Mumbai)

ITAT Mumbai held that addition u/s 45 under the head “Capital Gains” for violation of conditions u/s. 47(xiiib) of the Act on conversion of a private limited company into the assessee LLP unsustainable as commercial expediency not contravened by AO.

Facts-The assessee is a Limited Li

Please become a Premium member. If you are already a Premium member, login here to access the full content.