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10 November 2016

India's Apex Court rules transfer of business as going concern does not constitute "slump sale"

In Vatsala Shenoy (the Taxpayer), the Apex Court of India (the Apex Court) ruled that the transfer of the business of a dissolved partnership firm (the Firm) to a group of former partners does not constitute a "slump sale." In addition, the Apex Court held that the partners of the dissolved firm are subject to capital gains tax.

A Tax Alert prepared by EY's Global Tax Desk Network, and attached below, provides additional details.

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ATTACHMENT

Full text of Tax Alert 2016-1913

Document ID: 2016-1913

 

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