https://www.taxtmi.com/caselaws?id=58233 Transfer of an electricity undertaking was treated as a transfer of separately identified assets, not a slump sale, because the takeover covered useful assets individually valued and not the business as an undivided whole. Section 41(2) therefore applied, with profit and capital gains to be computed asset-wise on the actual depreciation history and valuation of each asset. Consumers' contributions could not be deducted in a lump sum without establishing a nexus to specific assets and had to be examined afresh on recomputation. The 10% solatium formed part of the taxable transfer consideration because it was payable as part of the statutory purchase price. en-us Sat, 30 Apr 1983 00:00:00 +0530 Sat, 18 Dec 2010 10:50:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58233 Transfer of an electricity undertaking was treated as a transfer of separately identified assets, not a slump sale, because the takeover covered useful assets individually valued and not the business as an undivided whole. Section 41(2) therefore applied, with profit and capital gains to be computed asset-wise on the actual depreciation history and valuation of each asset. Consumers' contributions could not be deducted in a lump sum without establishing a nexus to specific assets and had to be examined afresh on recomputation. The 10% solatium formed part of the taxable transfer consideration because it was payable as part of the statutory purchase price. Case-Laws Income Tax Sat, 30 Apr 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58233