https://www.taxtmi.com/caselaws?id=57550 The Tribunal held that the intangible rights acquired were taxable as capital gains, with the cost of acquisition being the cost of shares. It determined that the capital gains were not taxable in the assessment year 1980-81. The assessee was found not entitled to carry forward business losses but could set off unabsorbed depreciation. The levy of interest under section 217 was partially retained, and the entire interest income was deemed taxable in the relevant assessment year. The Departmental appeals were partially allowed, and the cross-objection by the assessee was dismissed. en-us Fri, 26 Jun 1998 00:00:00 +0530 Fri, 10 Dec 2010 17:12:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57550 The Tribunal held that the intangible rights acquired were taxable as capital gains, with the cost of acquisition being the cost of shares. It determined that the capital gains were not taxable in the assessment year 1980-81. The assessee was found not entitled to carry forward business losses but could set off unabsorbed depreciation. The levy of interest under section 217 was partially retained, and the entire interest income was deemed taxable in the relevant assessment year. The Departmental appeals were partially allowed, and the cross-objection by the assessee was dismissed. Case-Laws Income Tax Fri, 26 Jun 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57550