https://www.taxtmi.com/caselaws?id=66190 Sale of a cinema hall, machinery, furniture and lease rights for a lump sum was treated as a transfer of depreciable assets, not as a slump sale of the entire undertaking. Because the transaction did not amount to sale of the business as a going concern, section 41(2) of the Income-tax Act, 1961 was held applicable in principle. The available valuation material allowed itemised attribution to depreciable assets, but the price attributable to the unexpired leasehold right was not on record. The matter therefore required limited remand only to ascertain and exclude that amount before computing the balancing charge. en-us Fri, 27 Feb 1987 00:00:00 +0530 Tue, 22 Feb 2011 10:44:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66190 Sale of a cinema hall, machinery, furniture and lease rights for a lump sum was treated as a transfer of depreciable assets, not as a slump sale of the entire undertaking. Because the transaction did not amount to sale of the business as a going concern, section 41(2) of the Income-tax Act, 1961 was held applicable in principle. The available valuation material allowed itemised attribution to depreciable assets, but the price attributable to the unexpired leasehold right was not on record. The matter therefore required limited remand only to ascertain and exclude that amount before computing the balancing charge. Case-Laws Income Tax Fri, 27 Feb 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66190