https://www.taxtmi.com/caselaws?id=37430 The court held that route permits are considered property and can be subject to taxation as capital gains. It directed the Tribunal to investigate the cost of acquisition for the permits before determining the tax liability on the amount received from their sale. The court emphasized the need to establish whether any cost was incurred in acquiring the permits to ascertain the tax treatment accurately. en-us Tue, 07 Mar 1978 00:00:00 +0530 Mon, 29 Mar 2010 16:05:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37430 The court held that route permits are considered property and can be subject to taxation as capital gains. It directed the Tribunal to investigate the cost of acquisition for the permits before determining the tax liability on the amount received from their sale. The court emphasized the need to establish whether any cost was incurred in acquiring the permits to ascertain the tax treatment accurately. Case-Laws Income Tax Tue, 07 Mar 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37430