TMI BlogSale of patent/ know-how known as “Profofal” - disputed amount is taxable as capital receipt/ gains u/s....Sale of patent/ know-how known as “Profofal” - disputed amount is taxable as capital receipt/ gains u/s. 55 (2) - The assessee was not in the business of purchase and sale of patents, so the sale proceed of the assignment agreement could not be treated a revenue receipt. - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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