2015 (12) TMI 48

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..... ” which consisted of both goodwill as well as the right to use associate with 14 items out of 21 items did not attract capital gains tax - Held that:- From the record it is clear that the return of income for the relevant assessment year 1996-97 was filed by the assessee on 2/12/1996, which was nearly a year before the search was conducted. A categorical finding of fact has been recorded by the Tr .....

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..... For the Respondent : Sri A Shankar Mr M Lava, Adv JUDGMENT This appeal was admitted on the following substantial questions of law: a) Whether the Tribunal was correct in holding that a sum of ₹ 3,99,75,400/- paid by Sharp Corporation, Japan to the assessee for transfer of the right to use the trade mark SHARP which consisted of both goodwill as well as the right to use .....

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..... case whereas the second question goes to the root of the matter as to whether the amount in question ie., ₹ 3,99,75,400/- received by the assessee from Sharp Corporation, Japan was disclosed by the assessee in its return for the relevant assessment year 1996-97 filed before the search was conducted in the premises of the assessee which was on 16/10/1997. 4. From the record it is clear th .....

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