deduction. On the contrary we are
dealing with section 45 read with sections 48 and 50B providing for the computation of
capital gain ... sale of business
in its entirety u/s 45 read with sections 2(42C) and 50B. We fail to appreciate as to how
this case
CESTAT order that the only ground taken therein was related to Section 65(50b) of the Finance Act. The CESTAT following the Bangalore Bench decision ... owners or truck owners are not considered as commercial concern under Section 65(50b) of Finance Act. Consequently, the CESTAT allowed the assessees appeal
sale in
question was a slump sale within the meaning of Sec.50B of the Act. The AO
accordingly computed capital gain ... Sec.2(42C) of the Act and the method of
computation of capital gain on slump sale is given in Sec.50B
sale in
question was a slump sale within the meaning of Sec.50B of the Act. The AO
accordingly computed capital gain ... Sec.2(42C) of the Act and the method of
computation of capital gain on slump sale is given in Sec.50B
said Act”), applied for post-facto permission under Section 50B of
the said Act, from the competent authority for alienation of the
land in favour
clause 14 of Section 2 of the Motor Vehicle Act, 1988. In terms of Section 65(50b) , Goods Transport Agency means any commercial concern which ... Agency. A Goods Transport Agency in terms of its definition under Section 65(50b) provides service in relation to transportation of goods under a consignment
transporters would not amount to Goods Transport Agency [defined in Section 65(50b)] and enumerated as taxable service in Section 65(105)(zzp), the impugned ... principle that qua the definition of Goods Transport Agency enacted in Section 65 (50b) of the Act, to fall within the ambit of the defined
which was concurrently classified as Goods Transport Agency Service, defined in Section 65 (50b) and enumerated to be taxable service in Section 65(015)(zzzp ... classification of an activity as Goods Transport Agency Service defined in Section 65 (50b) of the Act.
5. Since there is no issuance of consignment
under the expression of commercial concern, which has been defined under Section 65 (50b) of Finance Act, 1994. Learned C.A. cites in support ... also be covered within the wording of commercial concern defined under Section 65 (50b) of Finance Act, 1994. He cites in support of his claim
capital
asset as defined under Section 2 (14) of the Act. Mr. Vohra pointed out that
Section 50B was a special provision for computation ... which is inserted with effect from 1 st April 2000. Under
Section 50B (1) profits or gains arising from a slump sale would be
chargeable
