In the result, the appeal of the Revenue is allowed and the appeal of the
Bench: S/Shri Chandra Poojari, Am & George George K., Jm
price after retaining liabilities to be borne by the purchaser. In Clause 3.2 of the sale deed executed between the assessee and the purchaser it is clearly stated that the undertaking is transferred as a going concern on "slump sale basis". The assessee also initially treated the sale of industrial unit as "slump sale" and when income tax return