https://www.taxtmi.com/caselaws?id=243385 The Tribunal upheld the CIT(A)'s decision that the transfer of the manufacturing division did not constitute a slump sale under section 2(42C) of the Income Tax Act. Therefore, capital gains tax under section 50B was not applicable. The Tribunal dismissed the Revenue's grounds related to demerger as they were not pertinent to the issue at hand. The appeal by the Revenue was ultimately dismissed, and the order was pronounced on 21.08.2013. en-us Wed, 21 Aug 2013 00:00:00 +0530 Wed, 01 Apr 2015 16:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243385 The Tribunal upheld the CIT(A)'s decision that the transfer of the manufacturing division did not constitute a slump sale under section 2(42C) of the Income Tax Act. Therefore, capital gains tax under section 50B was not applicable. The Tribunal dismissed the Revenue's grounds related to demerger as they were not pertinent to the issue at hand. The appeal by the Revenue was ultimately dismissed, and the order was pronounced on 21.08.2013. Case-Laws Income Tax Wed, 21 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243385