Indian Kanoon - Search engine for Indian Law

slump sale basis. To address this issue, Section 2(42C) and Section 50B of the Act were ITA 1003/2011 Page 4 of 31 introduced ... part of Section 43 of the Act. In the circumstances, clause (a) of Explanation 2 to Section 50B of the Act must be read

Section 50(1) of the ITA 12/2003 Page 10 of 28 Act was inapplicable. The Tribunal also noticed the provisions of Section 50B ... virtue of the Finance Act, 1999 - and held that since Section 50B of the Act was introduced after AY 1997-98, the said provision could