https://www.taxtmi.com/caselaws?id=329249 The High Court ruled in favor of the appellant in a case involving the reduction of written down value in a slump sale of an undertaking and the valuation of bonus shares. The Court held that the Tribunal's decisions were contrary to the law applicable during the relevant assessment year, specifically noting that the amendment to Section 43(6)(c) and Section 55(2)(aa) of the Income Tax Act should not retroactively apply. Consequently, both issues were resolved in favor of the appellant against the department. en-us Wed, 08 Jun 2016 00:00:00 +0530 Mon, 27 Jun 2016 07:19:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329249 The High Court ruled in favor of the appellant in a case involving the reduction of written down value in a slump sale of an undertaking and the valuation of bonus shares. The Court held that the Tribunal's decisions were contrary to the law applicable during the relevant assessment year, specifically noting that the amendment to Section 43(6)(c) and Section 55(2)(aa) of the Income Tax Act should not retroactively apply. Consequently, both issues were resolved in favor of the appellant against the department. Case-Laws Income Tax Wed, 08 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329249