https://www.taxtmi.com/caselaws?id=57632 The Tribunal upheld the profit computed under section 41(2) for the sale of buses. However, they ruled in favor of the assessee regarding capital gains on route permits, stating that if no amount was initially paid for acquiring the permit and it gained value over time, no capital gains tax should be levied. They emphasized that assets with no conceivable acquisition cost are not subject to capital gains tax, ultimately holding that the value of the route permits was not liable to capital gains tax. en-us Sat, 28 Jul 1984 00:00:00 +0530 Sat, 11 Dec 2010 12:14:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57632 The Tribunal upheld the profit computed under section 41(2) for the sale of buses. However, they ruled in favor of the assessee regarding capital gains on route permits, stating that if no amount was initially paid for acquiring the permit and it gained value over time, no capital gains tax should be levied. They emphasized that assets with no conceivable acquisition cost are not subject to capital gains tax, ultimately holding that the value of the route permits was not liable to capital gains tax. Case-Laws Income Tax Sat, 28 Jul 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57632