whether CG will arise on sale of self generated good will of CA in practice
if applicable under which section and if exempt under which section exempted..
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sale of self generated good will of CA in practice
Replies (3)
Self generated goodwil is taxable
Sec 55 self generated asset like goodwill of business, tenancy right etc. for which cost is not ascertainable, it's cost consider as nil and whole amount liable for CG
But,
Professional goodwill sold out is not liable for CG as per Supreme Court judgement in the case of B.C. Shrinivasa shetty
Sec 55 self generated asset like goodwill of business, tenancy right etc. for which cost is not ascertainable, it's cost consider as nil and whole amount liable for CG
But,
Professional goodwill sold out is not liable for CG as per Supreme Court judgement in the case of B.C. Shrinivasa shetty
any reference for supreme court decision on professional goodwill case
Commissioner Of Income Tax, ... vs B. C. Srinivasa Setty, Etc. Etc on 19 February, 1981
Equivalent citations: 1981 AIR 972, 1981 SCR (2) 938
For read whole judgement go on below link
https://taxpublishers.in/Ency_CM/CM_Judg_Show?128I0294?4
Equivalent citations: 1981 AIR 972, 1981 SCR (2) 938
For read whole judgement go on below link
https://taxpublishers.in/Ency_CM/CM_Judg_Show?128I0294?4
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