https://www.taxtmi.com/caselaws?id=343809 The court ruled in favor of the appellant regarding the deletion of negative net worth from long term capital gain calculation in a slump sale scenario. It was held that the negative net worth, stemming from accumulated losses, should be treated as nil for capital gain computation under Section 50B to prevent unjust gains for the purchaser. The judgment emphasized the exclusion of negative net worth from sale consideration and remitted the case back to the Assessing Officer for reassessment based on revised computations, ensuring a fair opportunity for the assessee. en-us Thu, 01 Jun 2017 00:00:00 +0530 Fri, 02 Jun 2017 06:16:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343809 The court ruled in favor of the appellant regarding the deletion of negative net worth from long term capital gain calculation in a slump sale scenario. It was held that the negative net worth, stemming from accumulated losses, should be treated as nil for capital gain computation under Section 50B to prevent unjust gains for the purchaser. The judgment emphasized the exclusion of negative net worth from sale consideration and remitted the case back to the Assessing Officer for reassessment based on revised computations, ensuring a fair opportunity for the assessee. Case-Laws Income Tax Thu, 01 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343809