https://www.taxtmi.com/caselaws?id=29290 Section 41(2) applies a balancing charge where consideration attributable to business plant and machinery exceeds their written down value. A transfer of a business as a going concern does not prevent asset-specific consideration from being taxed where the transfer deed identifies the value of plant and machinery, rather than providing an undifferentiated slump price. "Sold" includes transfer by exchange, and immovable-property transfer is completed on execution of the registered sale deed. The provision can apply despite business cessation where its Explanation deems the business to continue for the relevant purpose. Interest levied under section 215 is not appealable under the stated binding Full Bench principle. en-us Wed, 14 Apr 1982 00:00:00 +0530 Fri, 12 Mar 2010 10:19:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29290 Section 41(2) applies a balancing charge where consideration attributable to business plant and machinery exceeds their written down value. A transfer of a business as a going concern does not prevent asset-specific consideration from being taxed where the transfer deed identifies the value of plant and machinery, rather than providing an undifferentiated slump price. "Sold" includes transfer by exchange, and immovable-property transfer is completed on execution of the registered sale deed. The provision can apply despite business cessation where its Explanation deems the business to continue for the relevant purpose. Interest levied under section 215 is not appealable under the stated binding Full Bench principle. Case-Laws Income Tax Wed, 14 Apr 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29290