https://www.taxtmi.com/caselaws?id=205316 The Appellate Tribunal upheld the CIT (A)'s decision, affirming the imposition of capital gains tax on the transfer of a specific sales contract with a client through a Memorandum of Understanding (MOU). The Tribunal found that the transfer did not involve the sale of the right to carry on any business but a routine outsourcing contract, subjecting it to capital gains tax under specific provisions of the Income Tax Act. The appeal filed by the assessee was dismissed, confirming the tax liability on the amount received from the sale of the MOU. en-us Fri, 24 Jun 2011 00:00:00 +0530 Wed, 10 Aug 2011 18:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205316 The Appellate Tribunal upheld the CIT (A)'s decision, affirming the imposition of capital gains tax on the transfer of a specific sales contract with a client through a Memorandum of Understanding (MOU). The Tribunal found that the transfer did not involve the sale of the right to carry on any business but a routine outsourcing contract, subjecting it to capital gains tax under specific provisions of the Income Tax Act. The appeal filed by the assessee was dismissed, confirming the tax liability on the amount received from the sale of the MOU. Case-Laws Income Tax Fri, 24 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205316