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 : Understand Section 50B Slump Sale, where an undertaking is sold without individual asset valuation. Learn about computation, tax r...
Income Tax : Explore the strategic advantages, tax implications, and legal insights into slump sales, a key method of business transfer. Unders...
Income Tax : Learn about tax implications on slump sales under Section 50B of the Income-tax Act. Understand computation, rates, and GST implic...
Income Tax : Analysis of DCIT vs. Thulasi Mohan Constructions Pvt. Ltd. case, where capital gains in a business slump sale were contested. Lear...
Service Tax : CESTAT Ahmedabad held that transfer of technical know-how and patent etc. are in pursuance to the slump sale and not by way provid...
Income Tax : The Honble Supreme Court held that in the event of Slum Sale, the appellant would not be liable for any tax obligations before the...
Income Tax : ITAT held that by acquiring business rights along with tangible assets, the assessee got an up and running business and the specif...
Income Tax : PCIT Vs Akzo Noble India Limited (Calcutta High Court) Issue– Whether on the facts and in the circumstances of the case the ...
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...
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 […]
1. BACKGROUND A. Future Retail Debt Situation A significantly contributing factor which lead to Future Retail deciding to sell off their retail business is the current cash crunch being faced by the group since it defaulted on its Rs 100 Crore repayment on $500 million foreign currency bonds which was due last week. Over the […]
In re NIKO (NECO) Limited (GST AAR Andhra Pradesh) If transfer of Block Interest qualifies as a slump sale under the Income Tax Act, 1961, whether exemption from GST levy can be claimed on the same by the applicant? We have gone through the entire submission made by the applicant regarding the applicability of the […]
Schedule II of the CGST Act talks about activities or transactions to be treated either as a supply of good or supply of service. There are some certain activities or transaction which led to confusion whether they are supply of goods or supply of service. The matters listed out in Schedule II are primarily those […]
In the process of integration of the Indian economy with the world economy, a number of companies are going for restructuring to gain benefits from large scale operations and focus upon its core competencies. In the restructuring exercise, certain companies sell off their unprofitable business activities and the business activity as a whole is sold along with assets and liabilities.
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?
Article explains Provisions of Slump Sale under the Companies Act, 2013 and Income Tax Act, 1961. It explains Slump Sale through Business Transfer Agreement (BTA), Slump Sale through Scheme of Arrangement, Stamp Duty Chargeable On Business Transfer Agreement. Article explains Sections which deal with Slump sale, Definition of Slump sale, Capital Gain on Slump sale, […]
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.
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?
