https://www.taxtmi.com/caselaws?id=39185 Capital gains tax applies only where the transferred capital asset had an ascertainable monetary cost to the assessee. An import licence acquired without any cost in money was treated as falling outside the charge to capital gains, and the earlier interpretation of the relevant statutory expression was applied beyond goodwill, copyright and trademark to other capital assets as well. On that reasoning, transfer of the import licence did not generate taxable capital gains, and the issue was decided in favour of the assessee. en-us Mon, 20 Sep 1976 00:00:00 +0530 Tue, 13 Apr 2010 15:32:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39185 Capital gains tax applies only where the transferred capital asset had an ascertainable monetary cost to the assessee. An import licence acquired without any cost in money was treated as falling outside the charge to capital gains, and the earlier interpretation of the relevant statutory expression was applied beyond goodwill, copyright and trademark to other capital assets as well. On that reasoning, transfer of the import licence did not generate taxable capital gains, and the issue was decided in favour of the assessee. Case-Laws Income Tax Mon, 20 Sep 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39185