https://www.taxtmi.com/caselaws?id=270959 The tribunal ruled in favor of the appellant, holding that the sale of shares did not constitute a slump sale under Section 2(42C) of the Income Tax Act, 1961. It was determined that the transaction involved the sale of shares, not the transfer of an undertaking, and therefore, the provisions of Section 50B for computing capital gains on the sale of shares were deemed inapplicable. The tribunal directed the Assessing Officer to accept the appellant's transaction as presented, partly allowing the appeal and emphasizing that the sale of shares should be treated separately for capital gains computation under Section 48 of the Act. en-us Wed, 09 Dec 2015 00:00:00 +0530 Thu, 21 Jan 2016 07:06:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270959 The tribunal ruled in favor of the appellant, holding that the sale of shares did not constitute a slump sale under Section 2(42C) of the Income Tax Act, 1961. It was determined that the transaction involved the sale of shares, not the transfer of an undertaking, and therefore, the provisions of Section 50B for computing capital gains on the sale of shares were deemed inapplicable. The tribunal directed the Assessing Officer to accept the appellant's transaction as presented, partly allowing the appeal and emphasizing that the sale of shares should be treated separately for capital gains computation under Section 48 of the Act. Case-Laws Income Tax Wed, 09 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270959