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

High Court Of Kerala CIT, Kottayam vs. Accelerated Freeze Drying Co. Ltd. Assessment Year : 2003-04 Section 50B, 2(42C) C.N. Ramachandran Nair And K. Surendra Mohan, JJ. IT Appeal Nos. 640 And 1470 Of 2009 October 6, 2010 JUDGMENT C.N. Ramachandran Nair, J. – The question raised in the connected appeals filed by the revenue…

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