https://www.taxtmi.com/caselaws?id=445243 The Court dismissed the appeal, ruling in favor of the assessee and against the Revenue. It concluded that the transfer of the hospital did not qualify as a 'slump sale' under Section 2(42C) of the Income Tax Act, 1961, as it did not involve the transfer of the entire undertaking. Consequently, Section 50B, which pertains to capital gains in a 'slump sale', was deemed inapplicable. The Court upheld the ITAT's June 27, 2018, order, confirming that the transaction did not meet the legal criteria for a 'slump sale', with no costs awarded. en-us Fri, 13 Oct 2023 00:00:00 +0530 Fri, 03 Nov 2023 08:21:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445243 The Court dismissed the appeal, ruling in favor of the assessee and against the Revenue. It concluded that the transfer of the hospital did not qualify as a 'slump sale' under Section 2(42C) of the Income Tax Act, 1961, as it did not involve the transfer of the entire undertaking. Consequently, Section 50B, which pertains to capital gains in a 'slump sale', was deemed inapplicable. The Court upheld the ITAT's June 27, 2018, order, confirming that the transaction did not meet the legal criteria for a 'slump sale', with no costs awarded. Case-Laws Income Tax Fri, 13 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445243