https://www.taxtmi.com/caselaws?id=466746 Section 50B was held inapplicable retrospectively and slump sale capital gains must be computed under the law then in force; deductions for provident fund and ESIC paid within the statutory grace or before filing are allowable; professional fees incurred in connection with sale of the going concern are revenue expenditure and deductible; for section 80HHC computation only amounts actually included in business profits (net interest/brokerage/rent) are to be reduced and dividend and non business receipts are excluded from turnover while scrap proceeds are excluded where not integral to business; penalty for concealment is unsustainable for bona fide disputed additions. en-us Fri, 10 Mar 2017 00:00:00 +0530 Tue, 17 Feb 2026 15:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466746 Section 50B was held inapplicable retrospectively and slump sale capital gains must be computed under the law then in force; deductions for provident fund and ESIC paid within the statutory grace or before filing are allowable; professional fees incurred in connection with sale of the going concern are revenue expenditure and deductible; for section 80HHC computation only amounts actually included in business profits (net interest/brokerage/rent) are to be reduced and dividend and non business receipts are excluded from turnover while scrap proceeds are excluded where not integral to business; penalty for concealment is unsustainable for bona fide disputed additions. Case-Laws Income Tax Fri, 10 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466746