https://www.taxtmi.com/caselaws?id=214893 The High Court of Bombay held that the consideration received for the transfer of self-generated trade marks and designs during the Assessment Year 1999-2000 was not chargeable to capital gains tax. The court emphasized that the amendment introducing self-generated intangible assets to capital gains tax was effective only from 1st April 2002 onwards and did not have retrospective effect. Therefore, the sale of self-generated trade marks and designs prior to the amendment date was not subject to capital gains tax. The appeal was disposed of in favor of the respondent/assessee with no order as to costs. en-us Tue, 12 Jun 2012 00:00:00 +0530 Wed, 12 Dec 2012 10:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214893 The High Court of Bombay held that the consideration received for the transfer of self-generated trade marks and designs during the Assessment Year 1999-2000 was not chargeable to capital gains tax. The court emphasized that the amendment introducing self-generated intangible assets to capital gains tax was effective only from 1st April 2002 onwards and did not have retrospective effect. Therefore, the sale of self-generated trade marks and designs prior to the amendment date was not subject to capital gains tax. The appeal was disposed of in favor of the respondent/assessee with no order as to costs. Case-Laws Income Tax Tue, 12 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214893