Allowing the appeal of the assessee the Tribunal held that , transfer of its business division to its subsidiary against shares and debentures is not a slump sale but exchange hence provision would not be applied, as the Transfer of undertaking was not for money . ( AY. 2008 -09)
Bennett Coleman & Co. Ltd. v. ACIT (2017) 168 ITD 631/( 2018)192 TTJ 377 / 164 DTR 145 (Mum) (Trib.)
S. 50B : Capital gains – Slump sale –Cost of acquisition- Transfer of its business division to its subsidiary against shares and debentures is not a slump sale but exchange hence provision would not be applied .[ S.2(42C), 45 ]