https://www.taxtmi.com/caselaws?id=360611 The Court ruled in favor of the assessee, dismissing the Tax Appeal and upholding the Tribunal's decision regarding the valuation of goodwill in comparison to trademark for the purpose of capital gain tax. The Court emphasized the lack of scientific basis for the Assessing Officer's valuation method and cautioned against doubting declared consideration without supporting evidence. The decision highlighted that the issue was about the valuation of goodwill, not the taxability of capital gain, ultimately siding with the assessee's position. en-us Mon, 07 May 2018 00:00:00 +0530 Sat, 19 May 2018 15:36:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360611 The Court ruled in favor of the assessee, dismissing the Tax Appeal and upholding the Tribunal's decision regarding the valuation of goodwill in comparison to trademark for the purpose of capital gain tax. The Court emphasized the lack of scientific basis for the Assessing Officer's valuation method and cautioned against doubting declared consideration without supporting evidence. The decision highlighted that the issue was about the valuation of goodwill, not the taxability of capital gain, ultimately siding with the assessee's position. Case-Laws Income Tax Mon, 07 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360611