Slump Sale – Transfer of right to carry on business is chargeable as capital gains

IN THE ITAT DELHI BENCH ‘G’ Assistant Commissioner of Income-tax, Circle 33(1), New Delhi V/s. Smt. Sangeeta Wij IT Appeal No. 4274 (Delhi) of 2011 [Assessment Year 2008-09] MAY 25, 2012  ORDER A.D. Jain, Judicial Member This is Department’s appeal for the assessment year 2008-09 against the order dated 29.6.2011 of the CIT(A)XXVI, New Delhi, contending that the ld. CIT(A) has erred in deleting the addition of Rs. 1,20,00,000/- received by the assessee as compensation, as business profit u/s 28(va) of the I.T. Act, since the assessee has been found to have r...