https://www.taxtmi.com/caselaws?id=36144 The court ruled in favor of the revenue regarding the liability of the assessee to pay tax on capital gains and profits from the sale of machineries and tools, as well as on the sale of stock. However, the court sided with the assessee on the liability to pay tax on the transfer of goodwill, stating that such transfer does not attract capital gains tax under the Income Tax Act. Each party was directed to bear its own costs. en-us Mon, 25 Aug 1980 00:00:00 +0530 Fri, 19 Mar 2010 15:52:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36144 The court ruled in favor of the revenue regarding the liability of the assessee to pay tax on capital gains and profits from the sale of machineries and tools, as well as on the sale of stock. However, the court sided with the assessee on the liability to pay tax on the transfer of goodwill, stating that such transfer does not attract capital gains tax under the Income Tax Act. Each party was directed to bear its own costs. Case-Laws Income Tax Mon, 25 Aug 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36144