Tag: Consideration Received On Sale of ‘Patent’ Is Taxable Under The Head ‘Capital Gain

Consideration Received On Sale of ‘Patent’ Is Taxable Under The Head ‘Capital Gain

In M/s. Bharat Serums & Vaccines Ltd. v. ACIT, the division bench of the Mumbai Income Tax Appellate Tribunal held that the sale consideration received on the sale of patent is taxable under the head “capital gains” under the provisions of the Income Tax Act. The Assessee-company, is engaged in the business of manufacturing and […]