Supreme Court · 2017 INSC 357 · Decided 18 April 2017
The Commissioner of Income Tax, Ahmedabad v. Equinqx Solution PVT LTD.
- Court
- Supreme Court of India
- Citation
- 2017 INSC 357 · [2017] 4 S.C.R. 94
- Case number
- CIVIL APPEAL No. 4399/2007
- Decided
- 18 April 2017
- Bench
- R.K. AGRAWAL, ABHAY MANOHAR SAPRE (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
li1com~ •Tax Act, ]961 '- ss. 50(2), • 48(2) -Applicability of-· . Sale of entire runnbig· btisiness 1vith assets ai1d liabilities in one go if amounts toshimp sale ofa ''long ter/11 · as$essee sold its e1itire .run11ing businesS in one go aiidclaimed deduction ulsA8(2) t1;eating such sale as .slump sale in the 11alure of a long term capita/gain~ A~·sessing Officer.rejected the exe11iptio11 clainied holding that the case of the assessee wils covered uls.
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