Business transfer by HUF to its member

Pranav (owner) (226 Points)

07 August 2020  
Dear Experts,

Does business transfer by HUF to its member with consideration amount to taxable income? If yes, then under which income head?

Further, if we consider it as Slump sale then will it be taxable?

How about considering it as a gift by HUF to its member?

Kindly guide about tax consequences in the hands of the HUF.

Urgent.