https://www.taxtmi.com/caselaws?id=66685 The Tribunal dismissed the Department's appeal and partly allowed the assessee's appeal, determining the sale of the cement unit as a slump sale. Consequently, no tax under section 50 was applicable, and the cost of acquisition and improvement were unascertainable. The assessee was ineligible for depreciation on the transferred assets. Additionally, the Tribunal restricted the disallowance of entertainment expenditure to 75%, and disallowed deductions for certain expenses and provisions claimed by the assessee. en-us Mon, 10 Nov 2003 00:00:00 +0530 Fri, 12 Jul 2024 09:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66685 The Tribunal dismissed the Department's appeal and partly allowed the assessee's appeal, determining the sale of the cement unit as a slump sale. Consequently, no tax under section 50 was applicable, and the cost of acquisition and improvement were unascertainable. The assessee was ineligible for depreciation on the transferred assets. Additionally, the Tribunal restricted the disallowance of entertainment expenditure to 75%, and disallowed deductions for certain expenses and provisions claimed by the assessee. Case-Laws Income Tax Mon, 10 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66685