Tag: Goodwill of business

Madras H.C : The consideration received by the appellant for transfer of goodwill was taxable as ‘profits and gains of business’ under section 28(ii)(c) of the Income-tax Act and not under the head ‘Capital gains’

High Court Of Madras Chakiat Agencies (P.) Ltd. Vs. ACIT Section 28(i), 45, 263 Assessment Year 2001-02 R. Sudhakar And R. Karuppiah, JJ. Tax Case (Appeal) No.1279 Of 2007 December 2, 2014 JUDGMENT R. Sudhakar, J. – This appeal is filed by the assessee challenging the order of the Income-tax Appellate Tribunal “A” Bench, Chennai, dated …

Kerala H.C : If there was no transfer of interest and money paid to retiring partner was only towards capital invested and profit thereon, question of money paid towards goodwill would not arise

High Court Of Kerala Oberon Trading Corpn. VS. ITO, Ward-1(2), Thiruvananthapuram Assessment Year : 2004-05 Section : 37(1) Dr. Manjula Chellur And A.M. Shaffique, JJ. IT Appeal Nos. 248 And 255 Of 2013 October 7, 2013 JUDGMENT Manjula Chellur, CJ. – Heard learned counsel for the appellant. We have also gone through the orders of the …
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