https://www.taxtmi.com/caselaws?id=424120 A transfer of an undertaking was treated as outside the slump sale provisions because the business was not conveyed as a going concern with the full bundle of assets and liabilities; separate valuation of assets, retention of financial assets, and non-assumption of liabilities showed the statutory ingredients were unmet. Bad debts written off in the books were allowed as deduction where the debts related to the assessee's division, the write-off was supported by records, and later recovery was offered to tax. Compensation connected with machinery performance issues reduced actual cost only to the extent shown to relate to cost adjustment, so the depreciation claim could not be cut back in full. en-us Tue, 21 Jun 2022 00:00:00 +0530 Mon, 10 Oct 2022 10:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424120 A transfer of an undertaking was treated as outside the slump sale provisions because the business was not conveyed as a going concern with the full bundle of assets and liabilities; separate valuation of assets, retention of financial assets, and non-assumption of liabilities showed the statutory ingredients were unmet. Bad debts written off in the books were allowed as deduction where the debts related to the assessee's division, the write-off was supported by records, and later recovery was offered to tax. Compensation connected with machinery performance issues reduced actual cost only to the extent shown to relate to cost adjustment, so the depreciation claim could not be cut back in full. Case-Laws Income Tax Tue, 21 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424120