treated as slump sale with reference to section 2(42C)
read with section 50B of Income Tax Act, 1961.
Section 2(42C) which says that ... Capital Gain = (Net
Consideration) - (Net worth) as per section 2(42C) read
with section 50B is computed in the following
manner:-
Computation of Net Worth
condition of "slump sale of business provided
under Section 2(42C) read with Section 50B of the Act.
2
ITA No.5048/Mum/2024 ... slump sale in terms of Section 2(42C)
of the Act and therefore, the benefit of Section 50B of the Act was
rightly denied
condition of "slump sale of business provided
under Section 2(42C) read with Section 50B of the Act.
2
ITA No.5048/Mum/2024 ... slump sale in terms of Section 2(42C)
of the Act and therefore, the benefit of Section 50B of the Act was
rightly denied
Long Term Capital Gain on the
above transaction under section u/s 50B of the Act was worked-out by the
assessee ... Accountant dated 06.09.2012 in Form 3CEA in terms of
sub-section (3) of section 50B of the Act reporting different figures for
computation of Long
definition of a 'slump sale'
u/s. 2(42C), and therefore, the provisions of
sec.50B did not apply to the transaction ... therefore the provisions of section 2(42C) of the Act did
not apply. The provisions of section 50B were also not
therefore applicable
scope and intent of sec. 154 of the Act or not? The AO
interpreting the provisions of section 50B of the Act enhanced a LTCG ... purposes of sections 48 and 49 of the Act. The net worth
for the purpose of section 50B of the Act is equal
directing the Assistant Controller to correctly grant of relief under Section 50B and under Section 50 of the Estate Duty Act in accordance with ... Appellate Controller erred in restricting the relief under Section 50B in respect of sale of assets by Seth H.B. Mafatlal (HUF) effected
operation of Section 50 comes after the estate duty is determined. This comment holds good equally to Section 50B, for they all deal with deductions ... duty payable after giving relief under section SOB. Then the "estate duty payable" regarded for Section 50B would be different from what
Finance Ltd. Vs. DCIT
within the sweep of Sec. 50B r.w. Sec. 2(42C) and Explanation 1 of
Sec. 2(19AA ... brought the same to tax in terms
of the provisions of Sec. 50B of the „Act‟. The A.O after treating the
amount
undertaking
as required to be calculated under the provisions of section 50B(3) in
Form No. 3CEA has reflected the net worth ... profit has to be
calculated as per the provisions of section 50B of the Act. He referred
to Form No. 3CEA and submitted that sale
