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Sec. 50B

Bombay H.C : the capital gains are not applicable in view of the fact that the IMFL business has been transferred as going concern and therefore a slump sale

Avijit Das / March 19, 2017

High Court Of Bombay CIT, Mumbai vs. Polychem Ltd. Assessment Year : 1994-95 Section : 50B Dr. D.Y. Chandrachud And […]

S.C : Delay condoned : The instant review petitions are filed against the order dated 18.10.2016 whereby the aforementioned appeals were partly allowed.

Avijit Das / February 9, 2017

Supreme Court Of India Vatsala Shenoy vs. JCIT Section : 50B Assessment Year : 1995-96 A.K. Sikri And N.V. Ramana,

Section 45, Sec. 50B

S.C : The assessees are attempting the wriggle out from payment of capital gain tax on the ground that it was a “slump sale” within the meaning of Section 2(42C)

Avijit Das / October 18, 2016

Supreme Court Of India Vatsala Shenoy vs. JCIT (Assessment), Mysore Section 45, 50B Assessment Year 1995-96 A.K. Sikri And N.V.

Sec. 206A, Sec. 50B, Section 32, Section 43

Delhi H.C : For computing the net worth under Section 50B, Section 43(6)(c)(i)(C) is not applicable in case of slump sale of the undertaking includes the entire block of assets

Avijit Das / January 6, 2016

High Court Of Delhi CIT vs. Dharampal Satyapal Section 260A, 50B, 43, 32 Asst. Year 2001-02 S. Muralidhar & Vibhu

Sec. 2(42C), Sec. 50B

Bombay H.C : Whether since finding recorded by Tribunal was based on material available on record, it did not require any interference

Avijit Das / May 9, 2014

High Court Of Bombay CIT-6 vs. Bharat Bijlee Ltd. Section : 2(42C), 50B Assessment Year : 2005-06 S.C. Dharmadhikari And

Sec. 50B, Sec. 2(42C), Section 147

Bombay H.C : Reassessment on ground that transfer of undertaking by assessee was slump sale was unjustified since Tribunal had clearly recorded that transfer in lieu of shares was not a slump sale

Avijit Das / March 5, 2014

High Court Of Bombay Bharat Bijlee Ltd. vs. ACIT, Circle 6 (1), Mumbai Assessment Year : 2005-06 Section : 50B,

Sec. 50B, Sec. 2(42C)

Kerala H.C : The sale of the industrial units by the respondent-assessees with the land, building, plant and equipments as going concerns to another company during the previous year cannot be assessed to tax for capital gains as “slump sale” under section 50B

Avijit Das / October 6, 2010

High Court Of Kerala CIT, Kottayam vs. Accelerated Freeze Drying Co. Ltd. Assessment Year : 2003-04 Section 50B, 2(42C) C.N.

Section 45, Sec. 50B, Section 48

Karnataka H.C : Whether the Tribunal was correct in taking into consideration irrelevant circumstances like ‘bona fides of the assessee’, ‘whether the default was committed deliberately’, in failing to pay advance tax under s. 208

Avijit Das / September 9, 2009

High Court Of Karnataka CIT & Anr. vs. Brindavan Beverages Ltd. Section 2(42C), 45, 48, 50B, 115JA, 234B Asst. Year

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