Definition amendments expand slump sale, add liable to tax, include infrastructure debt funds and ULIP capital asset treatment. Amendments to section 2 revise definitions: exclude goodwill from block of assets; include certain unit linked insurance policies within capital asset; deem reconstruction or splitting up of a public sector company transferring assets to a resulting company as a demerger subject to approval and notified conditions; define liable to tax to include taxed persons later granted exemptions; expand slump sale to transfers by any means and link 'transfer' to clause (47); permit notified infrastructure debt fund to issue zero coupon bonds.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Definition amendments expand slump sale, add liable to tax, include infrastructure debt funds and ULIP capital asset treatment.
Amendments to section 2 revise definitions: exclude goodwill from block of assets; include certain unit linked insurance policies within capital asset; deem reconstruction or splitting up of a public sector company transferring assets to a resulting company as a demerger subject to approval and notified conditions; define liable to tax to include taxed persons later granted exemptions; expand slump sale to transfers by any means and link "transfer" to clause (47); permit notified infrastructure debt fund to issue zero coupon bonds.
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