https://www.taxtmi.com/caselaws?id=21319 Consideration for transfer of goodwill generated in a newly commenced business is not chargeable to capital gains tax because such self-generated goodwill is not an asset within the capital gains charging provision. The Supreme Court principle in B. C. Srinivasa Setty applies, and the earlier contrary view relied on by the Tribunal was disapproved on this point. The transfer of such goodwill therefore does not give rise to taxable capital gains. en-us Mon, 25 Jan 1993 00:00:00 +0530 Sat, 21 Nov 2009 15:40:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21319 Consideration for transfer of goodwill generated in a newly commenced business is not chargeable to capital gains tax because such self-generated goodwill is not an asset within the capital gains charging provision. The Supreme Court principle in B. C. Srinivasa Setty applies, and the earlier contrary view relied on by the Tribunal was disapproved on this point. The transfer of such goodwill therefore does not give rise to taxable capital gains. Case-Laws Income Tax Mon, 25 Jan 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21319