https://www.taxtmi.com/acts?id=49075 Profits from a slump sale are chargeable as long-term capital gains unless the undertaking or division was held for a short period before transfer, in which case they are short-term. For such transfers the net worth of the undertaking or division is deemed the cost of acquisition and improvement, and the fair market value of capital assets on the transfer date is deemed the full value of consideration. The assessee must furnish an accountant's report computing and certifying net worth; net worth equals aggregate assets less liabilities per books with specified valuation rules for asset classes. en-us Fri, 14 Feb 2025 16:42:50 +0530 Thu, 20 Feb 2025 12:12:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49075 Profits from a slump sale are chargeable as long-term capital gains unless the undertaking or division was held for a short period before transfer, in which case they are short-term. For such transfers the net worth of the undertaking or division is deemed the cost of acquisition and improvement, and the fair market value of capital assets on the transfer date is deemed the full value of consideration. The assessee must furnish an accountant's report computing and certifying net worth; net worth equals aggregate assets less liabilities per books with specified valuation rules for asset classes. Act-Rules Bills Fri, 14 Feb 2025 16:42:50 +0530 https://www.taxtmi.com/acts?id=49075