https://www.taxtmi.com/highlights?id=33361 Sale of patent/ know-how known as “Profofal” - disputed amount is taxable as capital receipt/ gains u/s. 55 (2) - The assessee was not in the business of purchase and sale of patents, so the sale proceed of the assignment agreement could not be treated a revenue receipt. - AT en-us Sun, 19 Feb 2017 17:42:39 +0530 Sun, 19 Feb 2017 17:42:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=33361 Sale of patent/ know-how known as “Profofal” - disputed amount is taxable as capital receipt/ gains u/s. 55 (2) - The assessee was not in the business of purchase and sale of patents, so the sale proceed of the assignment agreement could not be treated a revenue receipt. - AT Highlights Income Tax Sun, 19 Feb 2017 17:42:39 +0530 https://www.taxtmi.com/highlights?id=33361