Definition of the term “slump sale”:

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..... ined 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 .....

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..... , to substitute the word sales with the word transfer . 3. This amendment will take effect retrospectively from the 1st April, 2021 and will accordingly apply in relation to the assessment y .....

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