Right to manufacture recognised as akin to goodwill, aligning such proprietary rights with capital asset treatment under amended tax provision. Section 55 is amended to treat a right to manufacture, produce or process any article or thing alongside goodwill of a business by inserting that phrase ... Summary
Right to manufacture recognised as akin to goodwill, aligning such proprietary rights with capital asset treatment under amended tax provision.
Section 55 is amended to treat a right to manufacture, produce or process any article or thing alongside goodwill of a business by inserting that phrase after references to goodwill in the relevant clause of sub-section (1) and the corresponding clause of sub-section (2), aligning the legal characterisation of such rights with goodwill within the section's operative scheme.
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