Slump sale definition amended to replace 'sales' with 'transfer', clarifying scope of transfers under tax law. The statutory definition of slump sale is amended to substitute the word "sales" with "transfer", clarifying that a slump sale means the transfer of one ... Summary
Slump sale definition amended to replace 'sales' with 'transfer', clarifying scope of transfers under tax law.
The statutory definition of slump sale is amended to substitute the word "sales" with "transfer", clarifying that a slump sale means the transfer of one or more undertakings for a lump sum consideration without values being assigned to individual assets and liabilities, and the amendment is given retrospective effect to apply to the specified assessment year and subsequent assessment years.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
