Karnataka H.C : The condition under section 47(xiii)(b) should be satisfied only at the time of succession and not at any time thereafter

High Court Of Karnataka CIT & Anr. Vs. Prakash Electric Company & Anr. Section 47(xiii)(b), 143(3), 147 Asst. Year 2000-2001 Dr. Vineet Kothari & S. Sujatha, JJ. ITA No. 884/2007 c/w LT.A.No.60/2015 23rd July, 2018 Assessement—Capital gains—Imposition of tax—Deletion thereof—Assessee-company succeeded partnership firm comprising of 5 partners, who were said to be brothers of same…

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