https://www.taxtmi.com/caselaws?id=121366 The court ruled in favor of the assessee in part, dismissing the revenue's appeal. The sale of Howmedica business was treated as an itemized sale rather than a slump sale. The reimbursement from Pfizer Inc. was deemed a short-term capital gain, with deductions allowed. The write-off in closing stock was accepted as a legitimate business expense. The case was remanded to determine the net worth for computing capital gains from the slump sale. en-us Fri, 12 Jun 2009 00:00:00 +0530 Mon, 30 Jul 2012 12:06:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121366 The court ruled in favor of the assessee in part, dismissing the revenue's appeal. The sale of Howmedica business was treated as an itemized sale rather than a slump sale. The reimbursement from Pfizer Inc. was deemed a short-term capital gain, with deductions allowed. The write-off in closing stock was accepted as a legitimate business expense. The case was remanded to determine the net worth for computing capital gains from the slump sale. Case-Laws Income Tax Fri, 12 Jun 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121366