CA Ritu Chauhan (CA) (169 Points)
17 May 2013I have a query on slump sale.....
If transferee company acquires assets at the value higher than book value(as per the books of transferor company) then what will be the WDV in the books of transferee company as per Companies Act & as per Income Tax Act ? And how the depreciation will be computed in the year of acquisition & in subsequent years in the books of transferee as per both the Acts ?
CA SANJAY TALWAR
(Job)
(222 Points)
Replied 17 May 2013
In the absence of any specific provisions for computation of WDV of assets acquired upon slump sale in the books of the successor, a view could be taken that apportionment of slump consideration on the basis of fair values of various assets is possible.
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