Tribunal held that though the Hospital business was transferred as a going concern , land and building of Hospital was not transferred accordingly the Transfer of business could not be called slump sale as envisaged under S. 2(42C) of the Act. Thus the capital gains could not be computed in terms of S.50B . The receipt of Rs 10 Lakhs was to be taxed in accordance with law . ( AY.2009 10 to 2013-14)
Manipal Health Systems P. Ltd. v. ACIT (2018) 65 ITR 51 (SN)) (Bang) (Trib)
S. 50B : Capital gains – Slump sale – Transfer of Hospital business — No Transfer of Land and building of Hospital — Not slump sale — Receipt on account of transfer of Hospital business taxable . [ S.2(42C) ]