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1 - 10 of 38 (0.31 seconds)Section 50B in The Income Tax Act, 1961 [Entire Act]
Section 2 in The Companies Act, 1956 [Entire Act]
The Income Tax Act, 1961
Section 54EC in The Income Tax Act, 1961 [Entire Act]
Section 393 in The Companies Act, 1956 [Entire Act]
Section 391 in The Companies Act, 1956 [Entire Act]
Section 394 in The Companies Act, 1956 [Entire Act]
The Transfer Of Property Act, 1882
Commissioner Of Income Tax-6 vs M/S Bharat Bijlee Ltd on 4 December, 2014
32. The legal issue, which arises for consideration before us, was
considered by the Bombay High Court in the case of CIT Vs. Bharat
Bijlee Ltd. [reported in (2014) 365 ITR 258]. In the said case,
there was a transfer of lift division and the assessee claimed it to be an
exchange and not a sale. The Assessing Officer held that the
transaction would squarely fall within the definition of the expression
‘slump sale’ under Section 2(42C) of the Act. This order was
confirmed by the CIT(A), which was reversed by the Tribunal.
Challenging the same, the Revenue was on appeal before the Bombay
High Court.