https://www.taxtmi.com/caselaws?id=780508 ITAT (DEL) held that s.50C does not apply to the purchaser in a slump sale; instead s.56(2)(vii)(b) may apply and the AO erred in adopting stamp circle rates. The matter was remitted for the AO to refer land and building valuation to the Departmental Valuation Officer (DVO), who must hear the buyer, avoid using circle rates for the relevant period, and report fair market values; any excess over the reported consideration will be taxed under s.56(2)(vii)(b), with the balance of purchase price allocated to goodwill and depreciation allowed accordingly. Claim for depreciation on non-compete fee denied following jurisdictional HC precedent. en-us Tue, 28 Oct 2025 00:00:00 +0530 Fri, 31 Oct 2025 08:23:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780508 ITAT (DEL) held that s.50C does not apply to the purchaser in a slump sale; instead s.56(2)(vii)(b) may apply and the AO erred in adopting stamp circle rates. The matter was remitted for the AO to refer land and building valuation to the Departmental Valuation Officer (DVO), who must hear the buyer, avoid using circle rates for the relevant period, and report fair market values; any excess over the reported consideration will be taxed under s.56(2)(vii)(b), with the balance of purchase price allocated to goodwill and depreciation allowed accordingly. Claim for depreciation on non-compete fee denied following jurisdictional HC precedent. Case-Laws Income Tax Tue, 28 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780508