2013 (12) TMI 1273

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....D P Naidu, SDR PER : Pradip Kumar Das The facts of the case as revealed from the impugned order are that the applicant is engaged in the manufacture and sale of 'motor cars' and 'spare parts' thereof. They transferred the spare parts components division to M/s. MOBIS India Ltd. [MIL] under Business Transfer Agreement, dated 26.04.2007 on an agreed consideration of Rs.425.25 crores, effective fro....

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....nce Act, 1994. He also submits that the 'trademark' and 'goodwill' are different and distinct under the Intellectual Property Rights. 3. On the other hand, the learned authorised representative submits that goodwill is covered under the Trade Marks Act, 1999. He relied upon the decision of the Hon'ble Supreme Court in the case of Commissioner of Income Tax, Calcutta Vs SMIFS Securities Ltd. repor....

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....ent, the applicant licenced its Trademark and MIL, who would pay for licence fee @ 8.50% on the domestic sales value of the products. Tax was demanded on the portion of Goodwill amount received by the applicant pertaining to Trademarks. The transfer of Goodwill is accrued on account of Trademarks, Patent, Know-how, an intangible property. Section 38 of the Trademarks Act, 1999 provides that notwit....