X Ltd transfered its Division to Y Ltd 4 years before. Now one division of Y Ltd that orignally was with X Ltd,is transfered Through SLump Sale. Now the Capital Gain will Be Short Term or Long Term. Please Clarify
1 Replies
CA CS Amit Borade
(Chief Accountant)
(2828 Points)
Replied 22 July 2009
CG will be Long Term Capital gains ..
Refer case law : Max India Ltd v/s CIT,Jalandhar(High Court of Punjab and Haryana)
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