https://www.taxtmi.com/caselaws?id=253272 The Court upheld the Tribunal's decision regarding the valuation of goodwill at Rs. 1,60,00,000, dismissing the appeal against the revenue. It found the valuation method used by Registered Valuers to be scientific and accepted, emphasizing the lack of a substitute opinion from a competent officer. Additionally, the Court agreed with the deletion of the addition made on account of technical knowhow, stating that such knowhow developed over time without specific acquisition costs is not liable to capital gains tax. The appeal was dismissed, ruling in favor of the assessee on both issues. en-us Mon, 13 Oct 2014 00:00:00 +0530 Thu, 20 Nov 2014 12:49:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253272 The Court upheld the Tribunal's decision regarding the valuation of goodwill at Rs. 1,60,00,000, dismissing the appeal against the revenue. It found the valuation method used by Registered Valuers to be scientific and accepted, emphasizing the lack of a substitute opinion from a competent officer. Additionally, the Court agreed with the deletion of the addition made on account of technical knowhow, stating that such knowhow developed over time without specific acquisition costs is not liable to capital gains tax. The appeal was dismissed, ruling in favor of the assessee on both issues. Case-Laws Income Tax Mon, 13 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253272