Transfer of business under scheme of arrangement approved by HC isn’t slump sale; SLP dismissed

INCOME TAX : SLP granted against High Court ruling that transfer of assessee's non-transmission and distribution business in exchange of issuance and allotment of equity shares under a scheme of arrangement approved by High Court is not a slump sale exigible to capital gains tax under section 50B

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000315829/transfer-of-business-under-scheme-of-arrangement-approved-by-hc-isn’t-slump-sale-slp-dismissed.aspx