The author has conducted a deep and careful study of the law relating to taxation of slump sales u/s 50B. He makes out a compelling case to argue that s.50B is confined to a “sale” and does not extend to other slump transactions like an “exchange” or a “court transfer”. The author contends that despite s. 50B, non-sale slump transactions cannot be made chargeable to tax

The entire law on tax avoidance and tax evasion is set to undergo a radical change with the advent of GAAR in the Direct Tax Code 2010. The author has not only conducted meticulous research on the prevailing law and the proposed law, but also examined the position in other developed countries. The research work will help tax professionals come to terms with the impending change