https://www.taxtmi.com/caselaws?id=11767 The court held that the receipt of Rs. 10 lakhs from the transfer of a licence was not taxable as business profit under section 28(iv) of the Income-tax Act, as the licence was not connected to the assessee's existing business. Additionally, the receipt could not be assessed under 'Capital gains' due to the inability to compute the cost of acquisition as required by section 48. Therefore, the court concluded that the receipt could not be taxed under either provision and directed the Tribunal to proceed accordingly. en-us Tue, 25 Mar 2003 00:00:00 +0530 Mon, 08 Feb 2010 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11767 The court held that the receipt of Rs. 10 lakhs from the transfer of a licence was not taxable as business profit under section 28(iv) of the Income-tax Act, as the licence was not connected to the assessee's existing business. Additionally, the receipt could not be assessed under 'Capital gains' due to the inability to compute the cost of acquisition as required by section 48. Therefore, the court concluded that the receipt could not be taxed under either provision and directed the Tribunal to proceed accordingly. Case-Laws Income Tax Tue, 25 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11767