Court : Income Tax Appellate Tribunal ITAT Mumbai
Decided on : Feb-13-2013
..... be settled on that basis. it was, therefore, held that in order to arrive at the correct picture of the trading results of the partnership on the date when it ceases to function, the valuation of the stock in hand should be made on the basis of the prevailing market price ..... held that the above transaction was not a slump sale transaction and hence capital gain was required to be worked out as per normal provisions of the act. the ao observed from the chart as reproduced above that all assets other than inventories, that is, debtors, loans, miscellaneous receivables etc. did not ..... has been raised in relation to the fulfillment of conditions by the amalgamated company as given under clause (b) of section 72a(2) of the act. the first objection of the assessing officer is that the assessee-company ought to have held continuously for a minimum period of five years from the ..... be the loss or, unabsorbed depreciation of the amalgamated company for the previous year in which the amalgamation was effected, and other provisions of this act relating to set off and carry forward of loss and allowance for depreciation shall apply accordingly. as the amalgamation took place in the relevant previous ..... brought forward loss of bayer tpu pvt. ltd. (amalgamating company)(hereinafter called as btpu) amounting to rs. 7,73,00,414/- u/s. 72a of the act. 3. briefly stated the facts of this ground are that two separate companies - btpu and bayer specialty products pvt. ltd. (bsppl) - got amalgamated with the .....Tag this Judgment!