pashyanti (legal manager) 13 February 2012
Dear experts,
want your advice in the following matter:
This is regarding the sale of the plot of land by one partnership firm to another partnership firm consist of the same partners in both the firms.
One partnership firm ABC sale its plot of land to another partnership firm XYZ having same partners in both the firms. Is the sale is permissible?
Thanks in advance.
Pashyanti
Nandagopal Rao (Retainer) 14 February 2012
Yes. It is a sale by one entity to another, may be the Partners/Directors are same. Each of the firm will have different Registration Numbers and differnet PAN Cards. Ofcourse, there may be tax liability in such transaction. But sale is valid.
pashyanti (legal manager) 15 February 2012
Dear Sir,
Thanks sir.
Regards
Pashyanti
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