Slump sale defined as transfer of undertaking for lump sum consideration without assigning values to individual assets.

A slump sale is the transfer of one or more undertakings by any means for a lump sum consideration without values being assigned to the individual assets and liabilities. The provision treats valuation for stamp duty, registration fees or similar taxes as not amounting to assignment of individual values, and it cross-references statutory meanings of "undertaking" and "transfer."

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