Income Tax : The distinction between slump sale and itemised asset sale determines how capital gains are taxed. A true slump sale applies Secti...
Income Tax : This article explains the requirement to file Form 28 under Section 77(4) for slump sale transactions. The key takeaway is that fi...
Income Tax : A slump sale involves transferring an undertaking for a lump-sum consideration without breaking down individual asset values. It s...
Income Tax : Slump sale is a concept that plays a critical role in restructuring and consolidation of businesses. Under Income-tax Act a slump ...
Income Tax : Discover key insights on Global Anti-Base Erosion Model Rules (GloBE) for M&A strategies. Learn about Income Inclusion and Underta...
Income Tax : Reopening notices under Section 148 were quashed as the petitioner’s depreciation claims on a slump sale of an injectable busine...
Income Tax : Court considered whether admissions made by seller in settlement proceedings could affect purchaser’s depreciation claim. It hel...
Income Tax : High Court ruled that an AO's failure to determine if a unit sale was a slump sale (S.50B) or short-term capital gain (S.50) made ...
Goods and Services Tax : Gujarat AAR ruled that the ₹60 crore transfer of RDB Realty s Surat housing project qualifies as a transfer of a going concern a...
Income Tax : ITAT ruled in Grasim Industries that a court-sanctioned scheme transfer before the 2021 amendment is a transfer by law, not a slum...
Income Tax : CBDT notifies Rule 11UAE Computation of Fair Market Value of Capital Assets for the purposes of section 50B of Income-tax Act, 196...
Understand how to determine the Full Value of Consideration in a Slump Sale under Section 50B of the Income Tax Act. Learn about methods and rules for calculating capital gains.
GST on slump sale? Understand how the Central Board of Indirect Taxes & Customs view slump sale & why GST should not apply.
The Honble Supreme Court held that in the event of Slum Sale, the appellant would not be liable for any tax obligations before the date on which Agreement was executed as the appellant was neither a dealer nor a manufacturer before the date of execution of Agreement.
Slump sale is one of the most preferred ways of carrying out mergers & acquisitions deals where assessee transfers the entire undertaking or division for a lumpsum consideration without considering the individual values of the assets and liabilities.
ITAT held that by acquiring business rights along with tangible assets, the assessee got an up and running business and the specified intangible assets acquired under slump sale agreement are in the nature of any other business or commercial rights of a similar nature on which depreciation is allowable.
SLUMP SALE AND ITS IMPLICATIONS 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. Tax Effect in Slump Sale The gain or loss resulting out of a slump sale shall be a Capital Gain/Loss under […]
Slump sale is defined in clause (42C) of section 2 of the Act, as the transfer of one or more undertaking, by any means, for a lump sum consideration without values being assigned to individual assets and liabilities in such sales. Vide the Finance Act, 2021, the definition of ‘slump sale’ was amended to expand […]
PCIT Vs Akzo Noble India Limited (Calcutta High Court) Issue– Whether on the facts and in the circumstances of the case the Learned ITAT, Kolkata has erred in law in deleting the disallowance of sum of Rs.3.50 Crores and Rs.2.11 Crores for the assessment year 2006-07 and 2007-08 respectively on account of slump sale of […]
Seeking relief from Rule 11UAE impact on slump sale transactions? Learn how BCAS made a representation to CBDT for a solution.
Plugging loopholes within Section 50B governing Slump Sale Transactions : Amendments by Finance Act, 2021 This presentation would aim to simply explain what a slump-sale is and proceed to explain the concept of a slump sale in a tax perspective due to several issues faced pertaining to the tax-computation mechanism of a slump sale and […]
