Slump Sale of Entire Business as Going Concern, Not Depreciable Assets Sale, Under Income Tax Act Section 50. https://www.taxtmi.com/highlights?id=48636 Slump sale - if the sale consideration of the undertaking as a whole has been fixed without specifying any specific value to any asset and its includes tangible as well as intangible asset - further the assessee has also agreed for not carrying on the similar business for 10 years - it is a case of “slump sale” of undertaking as a going concern and not the sale of depreciable assets within the meaning of Section 50 en-us Wed, 14 Aug 2019 07:05:21 +0530 Wed, 14 Aug 2019 07:05:21 +0530 TaxTMI RSS Generator Slump Sale of Entire Business as Going Concern, Not Depreciable Assets Sale, Under Income Tax Act Section 50. https://www.taxtmi.com/highlights?id=48636 Slump sale - if the sale consideration of the undertaking as a whole has been fixed without specifying any specific value to any asset and its includes tangible as well as intangible asset - further the assessee has also agreed for not carrying on the similar business for 10 years - it is a case of “slump sale” of undertaking as a going concern and not the sale of depreciable assets within the meaning of Section 50 Highlights Income Tax Wed, 14 Aug 2019 07:05:21 +0530 https://www.taxtmi.com/highlights?id=48636