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Indian Laws - Highlights / Catch Notes

Home Highlights October 2011 Year 2011 This

Understanding Slump Sales in India: Transfer of Business Undertakings as Lump Sum with Tax Implications Under Income Tax Act


Understanding Slump Sales in India: Transfer of Business Undertakings as Lump Sum with Tax Implications Under Income Tax Act

October 29, 2011

Articles     Indian Laws

Slump Sale - Article

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  1. The case pertains to service tax liability arising from the sale/transfer of a business as a going concern by way of slump sale under the Income Tax Act, 1961. The issue...

  2. Nature of transaction - slump sale or transfer of shares - slump sale u/s 2(42C) - transfer of shares in a company will not result in a transfer of an undertaking or...

  3. Computation of capital gains - Slump sale u/s 2(42C) - transfer of capital assets u/s 2(47) - we took note of the submissions of the learned Senior Counsel for the...

  4. Nature on sale - Slump Sale - capital gain u/s 50B - Transfer of asset or not? - Section 50B of the Act provides a mechanism for assessment of capital gain on ‘transfer’...

  5. The entire personal scale business had been sold as a going concern for a lump sum amount, it was a case of a slump sale as defined in section 2(42C) and the profit...

  6. Slump sale - if the sale consideration of the undertaking as a whole has been fixed without specifying any specific value to any asset and its includes tangible as well...

  7. Sale of shares of joint venture company - slump sale - Section 50B - assessee has transferred is the shares in UHEL and this transfer of shares cannot be considered to...

  8. The Income Tax Appellate Tribunal allowed the assessee's claim for deduction u/s 80IA(4)(iv) of the Income Tax Act. The Tribunal held that the mere change of ownership...

  9. Taxing of capital gains u/s.50B r.w.s.2(42C) - sale of undertaking as a going concern for a lump sum consideration - addition made by the AO u/s.50B on account of gain...

  10. Slump sale - assessee claimed as sale of depreciable assets - as per terms of agreement, the assessee sold the entire undertaking with all its assets and liabilities...

  11. Slump sale - amount received by the assessee in lieu of transfer of the business leads - transfer of an individual asset, viz. its business leads - cannot be...

  12. Income accrued in India - permanent establishment (PE) - Withholding of tax in India - vessel engaged in seismic survey at high sea - The sum paid by the applicant to...

  13. Capital Gains - Slump sale or sale of individual assets - CIT(A) rendered a factual finding that the assessee has assigned separate values for the immovables consisting...

  14. Whether sale of assessee’s OHB to Colgate Palmolive is a slump sale as contended by the assessee or an itemized sale as contended by the Revenue – Held as slump sale - AT

  15. Slump sale of windmills - capital gains as a slump sale u/s 50B (2) - Wind mills constitute separate undertaking and the Ld.CIT(A) has rightly directed the AO to compute...

 

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