https://www.taxtmi.com/caselaws?id=63394 A lump-sum receipt on transfer of an entire bidi business as a going concern under a slump transaction was treated as neither revenue income nor capital gains, because the consideration was not attributable to any segregable asset and the arrangement was on a principal-to-principal basis. The claim for short-term capital loss on transfer of factory land and building failed because the relevant rights were held beyond the statutory period; the registration dispute did not change that characterisation. The assessee therefore succeeded on taxability of the business transfer receipt but failed on the loss claim. en-us Wed, 24 Dec 1986 00:00:00 +0530 Sat, 29 Jan 2011 17:19:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63394 A lump-sum receipt on transfer of an entire bidi business as a going concern under a slump transaction was treated as neither revenue income nor capital gains, because the consideration was not attributable to any segregable asset and the arrangement was on a principal-to-principal basis. The claim for short-term capital loss on transfer of factory land and building failed because the relevant rights were held beyond the statutory period; the registration dispute did not change that characterisation. The assessee therefore succeeded on taxability of the business transfer receipt but failed on the loss claim. Case-Laws Income Tax Wed, 24 Dec 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63394