https://www.taxtmi.com/caselaws?id=15408 Transfer of business assets and goodwill to newly formed companies did not make the consideration assessable as income where the transferor merely retained a personal right to use the trade name in his own continuing business. The reserved use of the name was a limited personal right and did not reduce the transaction to a licence fee arrangement. Goodwill remained a capital asset on transfer, and in the relevant year goodwill was not taxable as such. The amount received was therefore not assessable as income, and the reference was answered in favour of the assessee. en-us Mon, 14 Sep 1998 00:00:00 +0530 Thu, 06 Aug 2009 13:30:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15408 Transfer of business assets and goodwill to newly formed companies did not make the consideration assessable as income where the transferor merely retained a personal right to use the trade name in his own continuing business. The reserved use of the name was a limited personal right and did not reduce the transaction to a licence fee arrangement. Goodwill remained a capital asset on transfer, and in the relevant year goodwill was not taxable as such. The amount received was therefore not assessable as income, and the reference was answered in favour of the assessee. Case-Laws Income Tax Mon, 14 Sep 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15408