When an assessee sells the whole of his undertaking without specifically determining sale price of each asset of undertaking, then it is called 'Slump sale'.
Tax Implications:- Section 50B of Income tax act,1961 deals with provisions relating to 'Slump sale'.
Net worth of undertaking is treated as 'Cost of acquisition'
When life of undertaking as a whole is more than 3 years, then it is treated as 'Long term capital asset'irrespective of date of purchase of each individual asset.
When life of whole undertaking is less than 3 years, then it is treated as 'Short term capital asset' irrespective of date of purchase of each individual asset.
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