Tribunal held that ,transfer of business division to subsidiary against shares, same was not a ‘slump sale’ but an ‘exchange’; thus, provisions of S. 50B would not be applied. (AY.2007-08))
Oricon Enterprises Ltd. v. ACIT (2018) 170 ITD 231 (Mum) (Trib.)
S. 50B : Capital gains – Slump sale-Transfer of business division to subsidiary against shares, same was not a ‘slump sale’ but an ‘exchange’; thus, provisions of S. 50B is not applicable .[ S. 2(42C), 45 50C ]