https://www.taxtmi.com/caselaws?id=326405 The Tribunal determined that the sale of the chemical unit's assets by the assessee was classified as an itemized sale and not a slump sale under the Income Tax Act. Consequently, the Tribunal allowed the appeal in favor of the assessee, overturning the decisions of the lower authorities. The AO was directed to reassess the capital gains in line with this classification. en-us Wed, 16 Mar 2016 00:00:00 +0530 Thu, 14 Apr 2016 10:02:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326405 The Tribunal determined that the sale of the chemical unit's assets by the assessee was classified as an itemized sale and not a slump sale under the Income Tax Act. Consequently, the Tribunal allowed the appeal in favor of the assessee, overturning the decisions of the lower authorities. The AO was directed to reassess the capital gains in line with this classification. Case-Laws Income Tax Wed, 16 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326405