Goodwill Sale Generates Capital Receipts, Not Covered Under Income Tax Act Section 55(2)(a) for Assessee's Profession.

The sale of goodwill in the present case results in generation of capital receipts in the hands of the assessee out of his profession and as such do not come within the ambit of the provisions of section 55(2)(a) - AT .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X