Dismissing the appeal of the revenue the Tribunal held that , though the trade mark is a capital asset which was transferred by an agreement for a period of two years, as the cost of acquisition is not ascertainable receipt is capital receipt and not liable to capital gains tax.( AY. 1998-99)
ITO v. Modern Home Care Products Ltd. (2019) 174 ITD 209 / 197 TTJ 377/ 174 DTR 209(Delhi) (Trib.)
S.55: Capital gains- No cost of acquisition – Transfer of trade mark- Cost of acquisition is not ascertainable – Not liable to tax [ S.2(14),4, 45,48 , 55(2)(a)]