HC slams AO for invoking sec. 50B when slump sale was effected prior to introduction of such provisi

IT: Where a company 'S' took over business of assessee-company prior to 1-4-2000 and thereupon assessee received an amount of Rs. 4.50 crores from 'S' and it had bifurcated said amount towards trade mark and technical know-how, copyright and non compete compensation, in given situation it was a case of slump sale and since sale had taken place prior to introduction of section 50B, above amount could not be subjected to tax in hands of assessee under head 'capital gain