https://www.taxtmi.com/article/detailed?id=1701 A transfer of a business undertaking or business qualifies as a slump sale when made for a lump sum consideration without assigning values to individual assets and liabilities; the wide statutory definition of transfer includes transfers under a court sanctioned scheme of arrangement, so such scheme based transfers can attract the tax provision governing slump sales if the statutory conditions are satisfied. Factual variations like non transfer of certain assets or later allocation of asset values determine applicability. en-us Sun, 29 Apr 2012 18:39:53 +0530 Sun, 29 Apr 2012 18:39:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1701 A transfer of a business undertaking or business qualifies as a slump sale when made for a lump sum consideration without assigning values to individual assets and liabilities; the wide statutory definition of transfer includes transfers under a court sanctioned scheme of arrangement, so such scheme based transfers can attract the tax provision governing slump sales if the statutory conditions are satisfied. Factual variations like non transfer of certain assets or later allocation of asset values determine applicability. Articles Income Tax Sun, 29 Apr 2012 18:39:53 +0530 https://www.taxtmi.com/article/detailed?id=1701