https://www.taxtmi.com/article/detailed?id=12350 The Tribunal held that transfers of an ongoing business on a slump sale basis attract the exemption for transfer of a going concern and that ordinary ancillary restraints such as non compete obligations integral to such transfers cannot be severed from the transaction to characterise part of the sale as a taxable Declared Service. Payments forming part of an integrated sale with customary non compete restrictions were therefore not taxable as a Declared Service absent evidence of an independent toleration arrangement or a separable service component. en-us Fri, 23 Feb 2024 08:25:07 +0530 Fri, 23 Feb 2024 08:25:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12350 The Tribunal held that transfers of an ongoing business on a slump sale basis attract the exemption for transfer of a going concern and that ordinary ancillary restraints such as non compete obligations integral to such transfers cannot be severed from the transaction to characterise part of the sale as a taxable Declared Service. Payments forming part of an integrated sale with customary non compete restrictions were therefore not taxable as a Declared Service absent evidence of an independent toleration arrangement or a separable service component. Articles Service Tax Fri, 23 Feb 2024 08:25:07 +0530 https://www.taxtmi.com/article/detailed?id=12350