Bombay High Court Dismisses Revenue's Appeal in Income Tax Case Regarding Taxability of Sale Proceeds of Self-Generated Trade Mark and Brand Name. The Court held that the receipt of consideration for trade mark and design was not taxable as capital gains in the absence of a specific provision for cost of acquisition of self-generated assets prior to the amendment to Section 55(2) of the Income Tax Act, 1961 effective from 1/4/2002.
12 Jun 2012The case involves an appeal by the Revenue under Section 260A of the Income Tax Act, 1961, challenging an order of the Income Tax Appellate Tribunal d...
