Nagrijuli Tea Estate Sale Classified as Split, Not Slump Sale; No Capital Gains Tax u/s 2(42C) & 50B.

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Full Text of the Document

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....The instant case was one of split sale and not a case of slump sale. Sale of Nagrijuli Tea Estate was not a slump sale within the meaning of sec. 2(42C) of the Act read with section 50B of the Act and, therefore, not even assessable to capital gains - AT....