Capital gains to Partnership Firm

In a partnership firm there are three FAMILY members as partners, this Firm owns a NA land within municipal limits, now the Partners (family members) wish to distribute the above asset among themselves, will this be considered a family arrangement & not treated as transfer & hence no capital gains to firm , the firm will still continue, kindly advice with relevant case laws.

asked Dec 06 '11 at 10:11 by Mahesh123 111

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Asked: Dec 06 '11 at 10:11

Seen: 2,598 times

Last updated: Dec 06 '11 at 10:11