SCN-5 “SLUMP SALE”Atul Khurana
Welcome to the SCN series.
Today’s term is: Slump Sale
As per section 2(42C) of Income -tax Act 1961, ‘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 simple words, it is a sale of whole undertaking for a lump sum amount. Assests and Liabilities are not measured individually.
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