Slump Sale applicability: When consideration was not money but equity shares & debentures

Advocate Akhilesh Kumar Sah Bennett Coleman & Co. case: where the consideration was not money but equity shares and debentures, the transaction was not a “Sale” but an “Exchange”, the provisions of Section 50B were not applicable Section 50B of the Income Tax Act, 1961(for short ‘the Act’) deals with the capital gains in the case of slump sale. Very recently, in Bennett Coleman & Co. Ltd vs. ACIT & vice-versa [ITA No.3298/M/2012 and ITA No.3537/M/2012, A.Y.: 2008-09, decided on 08.01.2018], one of the issue raised by the assessee-company was against th...