“slump sale”

Thermo Fisher Scientific India Pvt Ltd., Mumbai vs. Dy CIT 15 (3)(1), Mumbai

Bench: SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SHRI OMKARESHWAR CHIDARA (Accountant Member)

Assessee also treated the difference between the purchase consideration paid and the value of all assets (tangible and intangible assets) acquired in the slump sale as goodwill in its financial statements. The Assessee has been claiming depreciation on the goodwill and business/commercial rights. However, the Assessing Officer denied depreciation claimed ... appeal, pertain to the claim of depreciation on manufacturing, supply and maintenance contracts and goodwill pursuant to the acquisition of two undertakings in a slump sale arrangement in earlier years. 7. The brief facts of the case pertaining to this issue, as emanating from the record, are: The assessee

Vidarbha Mining Private Limited, Mumbai vs. Deputy Commissioner of Income Tax, Circle-1(3)(2), Mumbai

In the result, the appeal filed by the assessee is hereby allowed

Bench: Ms. Kavitha Rajagopal, Jm & Ms. Padmavathy S., Am Vidarbha Mining Private Limited Deputy Commissioner Of Income 703, Samarpan Complex, Near Mirador Tax, Circle-1(3)(2), Mumbai Room No. 540, 5Th Floor, Aayakar Hotel, New Link Road, Chakala, Andheri (East), Mumbai – 400099. Vs. Bhavan, Maharshi Karve Rd, New Marine Lines, Churchgate, Mumbai – 400020. Pan/Gir No. Aaccv2506M (Assessee) : (Respondent) Assessee By : Shri. Gaurav Kabra Respondent By : Shri. G. J. Ninawe, Sr. Dr Date Of Hearing : 01.05.2025 Date Of Pronouncement : 30.07.2025 O R D E R Per Kavitha Rajagopal, J M: This Appeal Has Been Filed By The Assessee, Challenging The Order Of The Learned Commissioner Of Income Tax (Appeals)-Delhi (‘Ld. Cit(A) For Short), National Faceless Appeal Centre (‘Nfac’ For Short) Passed U/S.250 Of The Income Tax Act, 1961 (‘The Act'), Pertaining To The Assessment Year (‘A.Y.’ For Short) 2014-15. 2. The Assessee Has Raised The Following Grounds Of Appeal & Has Also Filed Additional Grounds Which Are As Follows: Grounds Of Appeal: “1. On The Facts & Circumstances Of The Case As Well As In Law, The Learned Cit(A) Has Erred In Confirming The Action Of Learned Assessing Officer In Reopening The Assessment U/S.147 Of The Act, Without Appreciating The Fact & Circumstances Of The Case. Vidarbha Mining Private Limited Vs. Dy. Cit

ground of addition made by the Learned Assessing Officer by treating the Long Term Capital Gain of Rs.6,43,67,864/- on account Slump sale, as alleged Short Term Capital gain, without considering the facts and circumstances of the case and without providing sufficient opportunity of being heard ... during the scrutiny assessment the issue of capital gain on sale of mining business by the assessee to Seven Mining Pvt. Ltd. via a Slump Sale Agreement has already been dealt with and considered by the ld. AO. 8. The ld. AR further argued on the additional ground raised

Mahadhan Agritech Limited (Formerly Known As Smartchem Technologies Ltd), Mumbai vs. Assistant Commissioner of Income Tax Central Circle 8(1), Mumbai

In the result, the appeals filed by the assessee are

arrangement was propounded by the board of directors of the previously mentioned companies wherein “TAN” and “fertilizers” businesses were proposed to transfer through slump sale from DFPCL to SCMFPL and further Demerged of the TAN Business and the Fertilizer Businesses an integral and indivisible part of the Scheme from SCMFPL ... rejected. The intent was to inflate the valuation of intangibles and to evade payment of tax. (iii) Valuation for the purposes of slump sale and demerger calculated different values of undertaking. Further, it was done by two different valuers. (iv) Company has failed to justify with supporting evidence that demerger

Mahadhan Agritech Limited (Formerly Known As Smartchem Technologies Limited ), Mumbai vs. Deputy Commissioner of Income Tax, Central Circle -8(1), Mumbai

In the result, the appeals filed by the assessee are allowed, and the appeal filed by the Revenue is dismissed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

arrangement was propounded by the board of directors of the previously mentioned companies wherein “TAN” and “fertilizers” businesses were proposed to transfer through slump sale from DFPCL to SCMFPL and further Demerged of the TAN Business and the Fertilizer Businesses an integral and indivisible part of the Scheme from SCMFPL ... rejected. The intent was to inflate the valuation of intangibles and to evade payment of tax. (iii) Valuation for the purposes of slump sale and demerger calculated different values of undertaking. Further, it was done by two different valuers. (iv) Company has failed to justify with supporting evidence that demerger

DCIT Central Circle 8(1), Mumbai vs. Mahadhan Agritech Limited, Pune

In the result, the appeals filed by the assessee are allowed, and the appeal filed by the Revenue is dismissed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

arrangement was propounded by the board of directors of the previously mentioned companies wherein “TAN” and “fertilizers” businesses were proposed to transfer through slump sale from DFPCL to SCMFPL and further Demerged of the TAN Business and the Fertilizer Businesses an integral and indivisible part of the Scheme from SCMFPL ... rejected. The intent was to inflate the valuation of intangibles and to evade payment of tax. (iii) Valuation for the purposes of slump sale and demerger calculated different values of undertaking. Further, it was done by two different valuers. (iv) Company has failed to justify with supporting evidence that demerger

Mahadhan Agritech Limited (Formerly Known As Smartchem Technologies Ltd, Mumbai vs. Commissioner of Income Tax(Appeal)--50, Mumai

In the result, the appeals filed by the assessee are allowed, and the appeal filed by the Revenue is dismissed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

arrangement was propounded by the board of directors of the previously mentioned companies wherein “TAN” and “fertilizers” businesses were proposed to transfer through slump sale from DFPCL to SCMFPL and further Demerged of the TAN Business and the Fertilizer Businesses an integral and indivisible part of the Scheme from SCMFPL ... rejected. The intent was to inflate the valuation of intangibles and to evade payment of tax. (iii) Valuation for the purposes of slump sale and demerger calculated different values of undertaking. Further, it was done by two different valuers. (iv) Company has failed to justify with supporting evidence that demerger

Mahadhan Agritech Limited (Formerly Knwon As Smartech Technologies Ltd ), Mumbai vs. Commissioner of Income Tax (Appeals)-Mumbai-50, Mumbai

In the result, the appeals filed by the assessee are

arrangement was propounded by the board of directors of the previously mentioned companies wherein “TAN” and “fertilizers” businesses were proposed to transfer through slump sale from DFPCL to SCMFPL and further Demerged of the TAN Business and the Fertilizer Businesses an integral and indivisible part of the Scheme from SCMFPL ... rejected. The intent was to inflate the valuation of intangibles and to evade payment of tax. (iii) Valuation for the purposes of slump sale and demerger calculated different values of undertaking. Further, it was done by two different valuers. (iv) Company has failed to justify with supporting evidence that demerger

Mahadhan Agritech Limited (Formerly Known As Smartech Technologies Ltd, Mumbai vs. Commissioner of Income Tax (Appeals)-Mumbai.50, Mumbai

In the result, the appeals filed by the assessee are allowed, and the appeal filed by the Revenue is dismissed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

arrangement was propounded by the board of directors of the previously mentioned companies wherein “TAN” and “fertilizers” businesses were proposed to transfer through slump sale from DFPCL to SCMFPL and further Demerged of the TAN Business and the Fertilizer Businesses an integral and indivisible part of the Scheme from SCMFPL ... rejected. The intent was to inflate the valuation of intangibles and to evade payment of tax. (iii) Valuation for the purposes of slump sale and demerger calculated different values of undertaking. Further, it was done by two different valuers. (iv) Company has failed to justify with supporting evidence that demerger

Deputy Commissioner of Income Tax, Circle-1(3)(1), Mumbai vs. Tmf Holdings Limited, Mumbai

In the result, the appeal of the revenue bearing ITA No

Bench: Shri Anikesh Banerjee & Smt. Renu Jauhrideputy Commissioner Of Vs Tmf Holdings Limited 14, 4Th Floor, Sir H C Dinshaw Income Tax, Circle 1(3)(1), Mumbai Building, 16, Horniman Circle, Fort, Room No.535, 5Th Floor, Aaykar Mumbai-400 001 Bhavan, M.K. Road, Mumbai- Pan: Aacct4644A 400 020 Appellant Respondent

payment under section 37(1) of the Act of Rs.400 crores; (ii) Tax liability of long term capital gains of Rs.25.35 crores arising on slump sale. Finally, addition was confirmed amount to Rs.400 crore for disallowance under section 37(1) of the Act related to crystallised claim of right liability ... observed that in order to convert itself into Core Investment Company (CIC), the assessee has realigned its businesses by transferring the whole business (On Slump sale Basis) to two of its subsidiaries- M/s Sheba Properties Ltd. and Tata Motors Finance Solutions Limited. The assets and liabilities of entire business

Thermo Fisher Scientific India P. Ltd, Mumbai vs. DCIT 15(3)(1), Mumbai

In the result, the appeal by the assessee is partly allowed for statistical

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhail

appeal, pertain to the claim of depreciation on manufacturing, supply and maintenance contracts and goodwill pursuant to the acquisition of two undertakings in a slump sale arrangement in earlier years. ITA No.2458/Mum/2015 (A.Y. 2010-11) 9 7. The brief facts of the case pertaining to this issue, as emanating from ... following basis: (a) No such intangible assets, such as manufacturing contracts, and supply/maintenance contracts have been transferred to the assessee company in a slump sale. (b) No evidence of these intangible assets being self-generated, and the same were transferred to the assessee in a slump sale. (c) Manufacturing contract

Aditya Birla Finance Limited, Mumbai vs. Assistant Commissioner of Income-Tax - 2(1)(1), Mumbai

In the result, the appeal is partly allowed

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

submitted that the assessee has taken over the business in relation to Information Technology Outsourcing services from XBSIPL as a going concern on slump sale basis, pursuant to the agreement dated 24.3.2015 for a consideration of Rs.98,09,65,904. Out of the total consideration, Rs.93,51,41,592 represents ... record. We notice that the Tribunal in the case of I & B Seeds Pvt. Ltd. (supra) has held as follows:- "Goodwill arising on slump sale -- eligible for depreciation 13. 10. In this case, the AO did not principally contend against the position of the Appellant, that the goodwill recorded