Slump sale

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Jaswinder singh

Jaswinder singh (Querist)
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05 December 2014 dear sir, what is the meaning of slump sale & why indexation benefit is not available?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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06 December 2014 Section 2(42C) of the Income Tax Act defines slump sale as "slump sale" means the transfer of one or more undertakings as a result of the sale for a lump sum consideration without values being assigned to the individual assets and liabilities in such sales.

In a slump sale the whole undertaking including ALL assets & liabilities are transferred. Further values are NOT assigned to individual assets.

A lump sum consideration is charged for the whole undertaking.

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Jaswinder singh

Jaswinder singh (Querist)
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07 December 2014 thnx..................

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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08 December 2014 You are welcome.

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