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Transfer of entire shareholding in subsidiary to third Co. won't amount to slump sale: Bombay HC

February 6, 2019[2019] 103 taxmann.com 12 (Bombay)/[2019] 261 Taxman 562 (Bombay)

IT : Where assessee sold its entire sahreholding in its subsidiary UHEL to a third party and, AO took a view that it was a case of slump sale 2(42C), in view of fact that what was transferred were mere shares of assessee in UHEL and there had been no transfer of an undertaking of UHEL, such change in mere pattern of shareholding of UHEL would not make it a case of slump sale, and,thus, impugned order passed by AO was to be set aside

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