The Income Tax Appellate Tribunal (ITAT), Cochin bench has held that the sale of hotel premises would amount to a slump sale which is liable to the taxed under Section 50B of the Income Tax Act. `Slump sale’ is a sale of an undertaking as a going concern. The assessee, in the instant case, had […]
The post Sale of a running Hotel is ` Slump Sale ’: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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