https://www.taxtmi.com/caselaws?id=306847 The Tribunal held that the entire consideration of Rs. 110 Crores from a slump sale should be taxed in AY 2014-15, rejecting the assessee's argument to defer taxation of Rs. 10 Crores contingent on future events. The Tribunal emphasized adherence to Section 50B without allowing postponement of recognizing capital gains based on deferred payments, overturning the CIT(A)'s decision. The appeal of the Revenue was allowed, emphasizing the statutory provisions governing capital gains on slump sales. en-us Tue, 16 Aug 2022 00:00:00 +0530 Thu, 02 Mar 2023 08:15:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306847 The Tribunal held that the entire consideration of Rs. 110 Crores from a slump sale should be taxed in AY 2014-15, rejecting the assessee's argument to defer taxation of Rs. 10 Crores contingent on future events. The Tribunal emphasized adherence to Section 50B without allowing postponement of recognizing capital gains based on deferred payments, overturning the CIT(A)'s decision. The appeal of the Revenue was allowed, emphasizing the statutory provisions governing capital gains on slump sales. Case-Laws Income Tax Tue, 16 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306847