High Court Rejects Tribunal's Stance on Slump Sale Asset Valuation; Disagrees with Taxpayer's Interpretation of Written Down Value.

Computation of Slump sale - ITAT had accepted the Assessee’s contention that in case the entire block of assets was sold, the written down value of the block of assets as existing must be taken at the aggregate value of the total assets. We are unable to concur with the said view. - HC .....

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