https://www.taxtmi.com/caselaws?id=335763 The High Court ruled in favor of the assessee, holding that the slump sale transaction qualified for treatment under Section 50B of the Income Tax Act, 1961. The court rejected the Revenue's arguments, emphasizing the commercial sense and legal definitions governing such transactions. The appeal was allowed in favor of the assessee, confirming the genuineness of the transaction and its eligibility for tax treatment under the specified provision. en-us Tue, 22 Nov 2016 00:00:00 +0530 Thu, 08 Dec 2016 21:10:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335763 The High Court ruled in favor of the assessee, holding that the slump sale transaction qualified for treatment under Section 50B of the Income Tax Act, 1961. The court rejected the Revenue's arguments, emphasizing the commercial sense and legal definitions governing such transactions. The appeal was allowed in favor of the assessee, confirming the genuineness of the transaction and its eligibility for tax treatment under the specified provision. Case-Laws Income Tax Tue, 22 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335763