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2015 (4) TMI 1057 - SUPREME COURT OF INDIA

2015 (4) TMI 1057 - SUPREME COURT OF INDIA - TMI - Depreciation on enhances value of assets Intention to reduce tax liability or not - Slump sale Held that:- HC order upheld [2014 (10) TMI 398 - GUJARAT HIGH COURT] - At the time of transfer of the assets, the assessee had no income for it to reduce its tax liabilities by way of such transfer, both the CIT (A) and the Tribunal had rightly concluded that the AO was in error in invoking Explanation 3 to Section 43 for determining actual cost in .....

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