https://www.taxtmi.com/caselaws?id=234134 The ITAT Mumbai allowed the appeal filed by the assessee for statistical purposes. The tribunal determined that the sale consideration was not from a slump sale due to the retention of certain assets, dismissing the AO's application of section 50B. The matter was remanded to the AO for re-computation of capital gains in accordance with section 50 of the Act, considering the FMV conceded by the appellant's counsel. The tribunal emphasized the importance of proper computation and adherence to the provisions of the Income Tax Act. en-us Wed, 01 May 2013 00:00:00 +0530 Tue, 07 May 2013 14:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234134 The ITAT Mumbai allowed the appeal filed by the assessee for statistical purposes. The tribunal determined that the sale consideration was not from a slump sale due to the retention of certain assets, dismissing the AO's application of section 50B. The matter was remanded to the AO for re-computation of capital gains in accordance with section 50 of the Act, considering the FMV conceded by the appellant's counsel. The tribunal emphasized the importance of proper computation and adherence to the provisions of the Income Tax Act. Case-Laws Income Tax Wed, 01 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234134