https://www.taxtmi.com/caselaws?id=414637 The Tribunal allowed the appeal partly, condoning the delay in filing the appeal due to circumstances beyond the assessee's control. It held that the sale transaction was not a slump sale as individual values were assigned to assets, deleting the addition of Long Term Capital Gains. The consideration received towards goodwill was deemed taxable under capital gains. The issue of disallowed expenses was remitted back to the AO for re-examination, providing the assessee an opportunity to substantiate its claim with documentary evidence. en-us Thu, 28 Oct 2021 00:00:00 +0530 Sat, 13 Nov 2021 20:29:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414637 The Tribunal allowed the appeal partly, condoning the delay in filing the appeal due to circumstances beyond the assessee's control. It held that the sale transaction was not a slump sale as individual values were assigned to assets, deleting the addition of Long Term Capital Gains. The consideration received towards goodwill was deemed taxable under capital gains. The issue of disallowed expenses was remitted back to the AO for re-examination, providing the assessee an opportunity to substantiate its claim with documentary evidence. Case-Laws Income Tax Thu, 28 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414637