Slump Sale

Rules for calculation of FMV of Capital Assets in case of Slump Salele

Income Tax - Section 50B read with Section 48 of the Act provides that capital gains on slump sale will be the difference between the full value of the consideration received/ accruing as a result of transfer of capital asset and the net worth of the undertaking sold....

Read More

Slump Sale | Rule 11UAE | Income Tax Rules, 1962

Income Tax - What is Slump Sale: ♦ A slump sale for income tax purposes would be one where an undertaking is sold without considering the individual values of the assets or liabilities contained within the undertaking. ♦ It may be important to note here that finding out individual values may be of relevance only for the purpose […]...

Read More

Analysis of Amendments in Provision of Slump Sale

Income Tax - ♦ Introduction The Finance Act 2021 has amended the provisions related to slump sale. It has amended the scope of the definition of the term slump sale by amending the provision of clause (42)(C) of section 2 of the Act so that all types of transfer as defined in clause (47) of section 2 of […]...

Read More

Rules for Valuation of Assets in Case of Slump Sale Notified

Income Tax - RULES FOR VALUATION OF ASSETS IN CASE OF SLUMP SALE NOTIFIED: Earlier due to non prescribed rules for the purpose of section 50B, Net assets transferred were valued at the book value. Now CBDT notified Rule 11UAE computation of FMV of capital assets for the purpose of section 50B of the income tax act, 1961 […]...

Read More

Slump Sales to be carried at Fair Market Value

Income Tax - Finance Act, 2021 made several significant amendments in many fronts. One of such amendment is with respect to scope of slump sale and computation of capital gains in case of slump sale with effect from assessment year 2021-22 (FY 2020-21). Section 50B of Income Tax Act, 1961 provides the special provision for computation of capital [&hel...

Read More
Sorry No Post Found

Capital Gain u/s 50B applicable on sale of undertaking which covers Depreciable Assets forming part of Industrial Undertaking

DCIT Vs Accelerated Freeze Drying Co. Ltd. (ITAT Cochin) - whether sale of industrial unit as a whole as a continuing business with land, building, plant, machinery and all equipment as a going business with assets and liabilities taxable under section 50B as slump sale or not?...

Read More

Transfer of division under scheme of arrangement can’t termed as Slump Sale

ACIT Vs Mcnally Bharat Engineering Co. Ltd. (ITAT Kolkata) - ITAT states that, in the given facts and circumstances and going by the clauses of the Scheme and reading them harmoniously and together the Tribunal held that the transfer of Lift Division comes within the purview of Section 2(47) of the Act but cannot be termed as a slump sale....

Read More

No Slump Sale if price based on individual assets & liabilities

CIT Vs Shiva Distilleries Limited (Madras High Court) - The issue under consideration is whether ITAT was right in law in holding Section 50B i.e slump sale was not applicable in present case of assessee?...

Read More

Rule 11UAE Computation of FMV of Capital Assets for Section 50B

Notification No. 68/2021-Income Tax [G.S.R. 338(E)] - (24/05/2021) - CBDT notifies Rule 11UAE Computation of Fair Market Value of Capital Assets for the purposes of section 50B of Income-tax Act, 1961 vide Notification No.68/2021 Dated 24th May, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 68/2021 –...

Read More

Recent Posts in "Slump Sale"

Rules for calculation of FMV of Capital Assets in case of Slump Salele

Section 50B read with Section 48 of the Act provides that capital gains on slump sale will be the difference between the full value of the consideration received/ accruing as a result of transfer of capital asset and the net worth of the undertaking sold....

Read More
Posted Under: Income Tax |

Slump Sale | Rule 11UAE | Income Tax Rules, 1962

What is Slump Sale: ♦ A slump sale for income tax purposes would be one where an undertaking is sold without considering the individual values of the assets or liabilities contained within the undertaking. ♦ It may be important to note here that finding out individual values may be of relevance only for the purpose […]...

Read More
Posted Under: Income Tax |

Analysis of Amendments in Provision of Slump Sale

♦ Introduction The Finance Act 2021 has amended the provisions related to slump sale. It has amended the scope of the definition of the term slump sale by amending the provision of clause (42)(C) of section 2 of the Act so that all types of transfer as defined in clause (47) of section 2 of […]...

Read More
Posted Under: Income Tax |

Rules for Valuation of Assets in Case of Slump Sale Notified

Notification No. 68/2021 24/05/2021

RULES FOR VALUATION OF ASSETS IN CASE OF SLUMP SALE NOTIFIED: Earlier due to non prescribed rules for the purpose of section 50B, Net assets transferred were valued at the book value. Now CBDT notified Rule 11UAE computation of FMV of capital assets for the purpose of section 50B of the income tax act, 1961 […]...

Read More
Posted Under: Income Tax |

Rule 11UAE Computation of FMV of Capital Assets for Section 50B

Notification No. 68/2021-Income Tax [G.S.R. 338(E)] 24/05/2021

CBDT notifies Rule 11UAE Computation of Fair Market Value of Capital Assets for the purposes of section 50B of Income-tax Act, 1961 vide Notification No.68/2021 Dated 24th May, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 68/2021 – Income Tax Dated: 24th May, 2021 G.S.R...

Read More

Slump Sales to be carried at Fair Market Value

Finance Act, 2021 made several significant amendments in many fronts. One of such amendment is with respect to scope of slump sale and computation of capital gains in case of slump sale with effect from assessment year 2021-22 (FY 2020-21). Section 50B of Income Tax Act, 1961 provides the special provision for computation of capital [&hel...

Read More
Posted Under: Income Tax |

Budget 2021- Rationalises provision of slump sale

Section 50B of the Act contains special provision for computation of capital gains in case of slump sale. Sub-section (42C) of section 2 of the Act defines ‘slump sale’ to mean the transfer of one or more undertakings as a result of sale for lump sum consideration without value being assigned to individual assets and […...

Read More
Posted Under: Income Tax |

Applicability of deeming provisions of Section 56(2)(x) of IT Act to buyer of undertaking under Slump Sale u/s 50B of IT Act

Applicability of deeming provisions of Section 56(2)(x) of Income Tax Act to buyer of undertaking under Slump Sale under section 50B of Income Tax Act, 1961 There were lots of controversies about taxation of such a sale of business as a going concern due to period of holding of the assets etc. To resolve the […]...

Read More
Posted Under: Income Tax |

Capital Gain u/s 50B applicable on sale of undertaking which covers Depreciable Assets forming part of Industrial Undertaking

DCIT Vs Accelerated Freeze Drying Co. Ltd. (ITAT Cochin)

whether sale of industrial unit as a whole as a continuing business with land, building, plant, machinery and all equipment as a going business with assets and liabilities taxable under section 50B as slump sale or not?...

Read More

Transfer of division under scheme of arrangement can’t termed as Slump Sale

ACIT Vs Mcnally Bharat Engineering Co. Ltd. (ITAT Kolkata)

ITAT states that, in the given facts and circumstances and going by the clauses of the Scheme and reading them harmoniously and together the Tribunal held that the transfer of Lift Division comes within the purview of Section 2(47) of the Act but cannot be termed as a slump sale....

Read More

Browse All Categories

CA, CS, CMA (5,614)
Company Law (7,522)
Custom Duty (8,569)
DGFT (4,572)
Excise Duty (4,505)
Fema / RBI (4,758)
Finance (5,077)
Income Tax (37,843)
SEBI (4,044)
Service Tax (3,739)

Search Posts by Date

July 2021
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031