sustainable on another ground. He urged that a self-generated or self-created goodwill is not a capital asset, the transfer of which will give ... section 2(4A) of the 1922 Act, a self-created or self-generated goodwill (which it is in the instant case) would not be capital
being not referable to such capital asset, and a self-created or self-generated goodwill being such asset, will be outside the purview ... Since we have been come to the conclusion that self-created or self-generated goodwill is not capital asset which could be said to have
value of goodwill, with the goodwill remaining constant, or as the cost of improving or adding to the quality of the goodwill. Such ... increase is really due to the fact that by further self-generation the goodwill has increased. The argument of Mr. Joshi, that the ratio
cases, the Courts have decided that, in case of self generated assets like goodwill or where the cost of asset to an assessee (not covered ... that cost of acquisition in case of self generated goodwill will be taken to be nil. For the purpose of bringing the capital gain arising
being not referable to such capital asset and a self-created or self-generated goodwill being such asset, will be outside the purview ... capital asset can give rise to chargeable gain. Since self-created or self-generated goodwill is not a capital asset which could be said
Crores was not acquired by petitioner but was self-
generated Goodwill introduced in the books of account before
conversion of partnership firm into assessee company ... have been introduced in the books of account because it was self-
generated Goodwill before conversion of partnership firm into assessee
company and the amount
referred to us for opinion on the assumption that the goodwill though a self-generating asset is a capital asset and on further assumption that ... capital asset with which we are concerned is a self-generating asset, namely, the goodwill of the business, in point of fact there
taken the value of the goodwill at nil not because it had cost nothing to the assessee, being self-generated, but that the same ... duty. The assessee, thus, did not receive the goodwill of the firm. The goodwill was self-generated in his case. Assuming the shop itself
second appeal, the Tribunal deleted the addition observing that goodwill was a self-generated asset in the case of the assessee and no income ... difficulty in holding that the Tribunal was right that the goodwill being a self-generated asset, the surplus so determined by the Income-tax Officer
value of goodwill was not liable to capital gains tax on the ground that the goodwill was self-generating asset. Thirdly, it was contended that ... business that the goodwill grew. In other words, the goodwill of the firm in the instant case was admittedly a self-generated asset which
