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Know-how assignment income is non-taxable u/s 55(2)(a); no capital gains on self-generated know-how assets.

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Full Text of the Document

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....Taxability of consideration received on assignment of know-how - section 55(2)(a) of the Act makes no reference to know-how - the cost of acquisition of know-how under development being a self-generated asset is not ascertainable, and hence, no chargeable capital gains would arise....

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