TMI BlogAssessee had transferred as per the agreement goodwill to client which AO contested that it cannot be...Assessee had transferred as per the agreement goodwill to client which AO contested that it cannot be treated as a capital receipt and be treated as a revenue receipt and brought to tax under the head "Profit and Gains of Business' - consideration paid is not for the goodwill but it is for the assets, properties and rights of the transferor hence treated as capital receipt - HC ..... X X X X Extracts X X X X X X X X Extracts X X X X
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