Introduction: Navigating the labyrinth of tax laws becomes crucial, especially when it comes to intricate situations like the transfer of businesses from sole proprietorships to private limited companies. In a recent case, Ravi Jalan v. DCIT (2020) 181 ITD 284 / 193 DTR 175 / 207 TTJ 38 (Kol.)(Trib.), the Tribunal grappled with the implications …
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