https://www.taxtmi.com/caselaws?id=22275 Self-generated goodwill was held not to attract capital gains tax on sale where the computation mechanism under the Income-tax Act could not be applied as contended by the Revenue. The Bombay HC applied the Supreme Court ruling in CIT v. B. C. Srinivasa Setty and answered the reference in favour of the assessee, holding that the amount attributed to goodwill was not liable to capital gains tax. en-us Wed, 27 Feb 1991 00:00:00 +0530 Tue, 08 Dec 2009 16:00:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22275 Self-generated goodwill was held not to attract capital gains tax on sale where the computation mechanism under the Income-tax Act could not be applied as contended by the Revenue. The Bombay HC applied the Supreme Court ruling in CIT v. B. C. Srinivasa Setty and answered the reference in favour of the assessee, holding that the amount attributed to goodwill was not liable to capital gains tax. Case-Laws Income Tax Wed, 27 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22275