Sale of one business undertaking along with all its assets & liabilities would fall within meaning of slump sale

INCOME TAX: Where assessee sold one of its business undertakings with all its assets and liabilities together with all licences, permits, approvals, registration, contracts and other contingent liabilities for a slump price, its case would fall within meaning of section 50B and, thus, profit earned by assessee from said transaction would be taxable as long term capital gain

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