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2014 (1) TMI 1589 - HC - Income TaxWhether sale consideration of a going concern be taxed as capital gains - Slump sale - Held that:- Relying upon the decision in PNB Finance Ltd. V/s. Commissioner of Income-Tax [2008 (11) TMI 7 - SUPREME COURT] - Section 45 charges the profits or gains arising from the transfer of a capital asset to income-tax - The charging section and the computation provisions together constitute an integrated Code and when in a case the computation provisions cannot apply, such a case would not fall within Section 45 - The said sale has taken place prior to the amendment introducing section 50B the concept of slump sale - Merely because the assessee has given split up figures and received the consideration from the purchaser, it would not take the goods out of slump sale - Decided against Revenue.
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