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Income Tax - Highlights / Catch Notes

Home Highlights May 2014 Year 2014 This

Transfer of Lift Division – Slump sale - The parties were agreed ...


Assessee's Lift Division Transferred via Slump Sale Deemed an Exchange, Not a Sale; Consideration in Bonds or Shares.

May 16, 2014

Case Laws     Income Tax     HC

Transfer of Lift Division – Slump sale - The parties were agreed that the assessee was to transfer the undertaking and take bonds/preference shares as consideration - it was a case of exchange and not a sale - HC

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