https://www.taxtmi.com/caselaws?id=765897 ITAT Mumbai held that section 50 provisions were inapplicable to trademark sales acquired before 01/04/1998. The assessee acquired trademarks in 1992-93 and 1997-98, prior to Finance Act 1998 amendments that included intangible assets in depreciation blocks. Since no depreciation was claimed on these pre-1998 intangible assets, section 50 conditions weren't satisfied. The tribunal allowed the appeal, treating gains as long-term capital gains instead of short-term capital gains as determined by lower authorities. en-us Mon, 10 Feb 2025 00:00:00 +0530 Wed, 12 Feb 2025 08:30:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765897 ITAT Mumbai held that section 50 provisions were inapplicable to trademark sales acquired before 01/04/1998. The assessee acquired trademarks in 1992-93 and 1997-98, prior to Finance Act 1998 amendments that included intangible assets in depreciation blocks. Since no depreciation was claimed on these pre-1998 intangible assets, section 50 conditions weren't satisfied. The tribunal allowed the appeal, treating gains as long-term capital gains instead of short-term capital gains as determined by lower authorities. Case-Laws Income Tax Mon, 10 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765897