https://www.taxtmi.com/caselaws?id=253749 The Tribunal concluded that the transaction was a slump sale, and the provisions of section 50B of the Income Tax Act, 1961 were applicable. The sale consideration was Rs. 78.45 lacs, and no capital gain arose as the net worth was deemed the cost of acquisition. The matter was remanded to the Commissioner of Income Tax (Appeals) to verify compliance with section 50B(3). The appeal by the Revenue was disposed of on these terms. en-us Fri, 21 Nov 2014 00:00:00 +0530 Wed, 03 Dec 2014 10:16:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253749 The Tribunal concluded that the transaction was a slump sale, and the provisions of section 50B of the Income Tax Act, 1961 were applicable. The sale consideration was Rs. 78.45 lacs, and no capital gain arose as the net worth was deemed the cost of acquisition. The matter was remanded to the Commissioner of Income Tax (Appeals) to verify compliance with section 50B(3). The appeal by the Revenue was disposed of on these terms. Case-Laws Income Tax Fri, 21 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253749