transfer
of trademarks, brand names and the goodwill. In other words, it was not for
self-generated assets but for assets that had been acquired ... Assessee to contend that the trademarks, brand
names and goodwill were „self generated‟ or that they could not be assigned
any cost of acquisition
plaintiffs. It is an attempt to climb on another's goodwill. Goodwill is the result of a person's own labour and merit ... takes years (sometimes generations) of patient and self-abnegating toil and investment to develop and gain the advantage of goodwill. It is the invasion
pertaining to capital gains and (iii) in the case of self-generated asset, like goodwill in that case , it is not possible to determine ... stand of the assessed is that the undertaking being a self-generated asset, it is not possible to conceive its cost of acquisition
ITAT's order would reveal that the basis for
valuation of goodwill in this case was three fold: (a) the assessee, though
established ... Srinivasa Setty [1981] 128 ITR 294, held
that since goodwill is a self-generating asset, its transfer would not give rise
to a capital gain
pertaining to capital gains, and (iii) in the case of self-generated asset, like goodwill in that case , it is not possible to determine ... stand of the assessed is that the undertaking being a self-generated asset, it is not possible to conceive its cost of acquisition
listed in para 2 above) not being in the nature of goodwill of a business, the issue to be decided, depends upon one vital factor ... transferred was initially acquired at a cost or whether it was self generated. In the event, such asset was acquired at a consideration, capital gains
indicate a
substantial reduction in donations attributable to the negative publicity
generated by the impugned webpage. Plaintiff No. 2's bookstore operations
in Delhi ... four emails purportedly sent by Delhi residents,
are fabricated and self-generated. The identical language used in these
emails, along with the fact that
shown as fictitious assets i.e. Goodwill (in
post-merger Balance Sheet of the Transferee
Company), which itself justify that such
transactions are fictitious ... Goodwill), distribution network etc. In the
Balance Sheet of the company the tangible
assets are reflected at their purchased cost
whereas the self-generated intangible
Kusum Sharma vs Mahinder Kumar Sharma on 14 January, 2015
Equivalent citations: AIR 2015 DELHI
growth. The process of the growth in value is imperceptible. It is self-created without any contribution by the assessed, monetarily or otherwise. The fact ... Supreme Court was concerned with the capital asset of "goodwill" generated in a new business. The date of acquisition of the asset
