CIT v. Mugneeram Bangur & Corn. (Land Department)

57 ITR 299Supreme Court of India1965#5541 most cited

What is CIT v. Mugneeram Bangur & Corn. (Land Department) authority for?

In a slump sale of a business undertaking, the slump purchase price cannot be apportioned amongst individual assets for the purpose of claiming depreciation if no item-wise value was assigned in the purchase agreement.

21

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2010 to 2025.

Also referred to as

Mugneeram Bangur & Corn. (Land Department) · 57 ITR 299 · SC · 1965 · slump sale · business undertaking · consolidated consideration · item-wise value · depreciation · apportionment

Sections most often in play

Section 115JBSection 143(3)Section 14ASection 32Section 43Section 50B

Issues it is cited on

section 14ascrutiny assessmenttransferprescribedcompanyindiabusinesssection 14section 143(3)total incomeinterest

Judgments citing CIT v. Mugneeram Bangur & Corn. (Land Department)

Commissioner of Income Tax vs. ECE Industries Limited

ITA-417/2007HC Delhi24 Dec 2010
Section 50Section 50(2)

…* IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA No.417 of 2007 with ITA No.1069 of 2007 % DECISION DELIVERED ON: DECEMBER 24, 2010 1) ITA No.417 of 2007 Commissioner of Income Tax . . . Appellant through : Ms. Prem Lata Bansal, Advocate. VERSUS ECE Industries Limited . . .Respondent through: Mr. Ajay Vohra, Advocate with Ms. Kavita Jha, Advocate and Mr. Somnath Shukla, Advocate. 2) ITA No.1069 of 2007 Commissioner of Income Tax . . . Appellant through : Ms. Prem Lata Bansal,…