Supreme court puts an end to realty tax evasion through partnership firms

This ruling of SC will have a far-reaching effect, which has changed perception of using Partnership Firm to evade taxes. The SC has considered revaluation of the assets of a Partnership Firm is an event deemed to transfer of assets to the partners and hence taxable in the hand of firm.

source https://www.caclubindia.com/articles/supreme-court-puts-end-to-realty-tax-evasion-through-partnership-firms-48039.asp