DY CIT CIRCLE- 12(1)(1), MUMBAI vs. M/S ARCHROMA INDIA PVT LTD., THANE
In the result, appeal filed by the revenue is dismissed
ITA 590/MUM/2020[2016-17]Status: DisposedITAT Mumbai29 Jun 2022AY 2016-17
Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Bledcit – Circle – 12(1)(1) V. M/S. Archroma India Pvt. Ltd., Room No. 128C, 1St Floor 9Th Floor, D Building Aayakar Bhavan, M.K. Road Mbc Park, Ghodbunder Road Mumbai - 400020 Kasawadavali, Thane Mumbai - 400615 Pan: Aaaca8270F (Appellant) (Respondent) Assessee By : Shri Madhur Agrawal Department By : Ms. Shailaja Rai
For Appellant: Shri Madhur AgrawalFor Respondent: Ms. Shailaja Rai
Section 170Section 2(42)Section 2(42)(C)Section 32Section 32(1)(ii)Section 50BSection 5O
slump sale of business and therefore it is not in the nature of succession. In this regard he referred to the provisions of section 2(42)C and provisions of section 5OB. He further submitted that Customer Distribution Network
(CDN) is an eligible intangible assets or the same ... careful consideration we note that in the present case assessee has acquired the assets under a slump sale. The income tax act under section 2(42)(C) defines slump sale as under:
“slump sale means the transfer of one or more undertakings as a result of the sale
