TMF HOLDING LTD.,MUMBAI vs. PR. CIT -1, MUMBAI
ITA 1628/MUM/2020[2015-16]Status: DisposedITAT Mumbai22 Apr 2022AY 2015-16
Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Bletmf Holdings Ltd., V. Pr.Cit – 1 {Formerly Known As Tata Motors Finance Ltd.,} 3Rd Floor, Room No. 330 10Th Floor, 106 A & B Aayakar Bhavan, M.K. Road Maker Chamber-Iii Mumbai - 400020 Nariman Point, Mumbai Pan: Aacct4644A (Appellant) (Respondent) Shri Nikhil Tiwari Assessee By : Department By : Shri S.N. Kabra
For Appellant: Department byFor Respondent: Shri S.N. Kabra
Section 115JSection 143(3)Section 14ASection 263Section 47
provision to determine the cost of acquisition of the business undertaking.
36. In order to tax the gains arising from slump sale transaction, section 2(420) (which defines the term 'slump sale') and section 50B
(which lays down a special mechanism for computing the gains therefrom) were inserted ... section 45 of the Act. Thus, after the insertion of Section 50B, the profits or gains arising from slump sale, as defined in Section 2(420), became chargeable under the head "Capital Gains" under section 45 of the Act.
39. It is further pertinent to note that the transaction
