VATSALA SHENOY vs. JT.COMMISSIONER OF INCOME TAX

90,000. Since total sale Page 12 JUDGMENT 12 consideration at which the firm was sold was 92 crores, balance ₹ amount of 70,47,10,000 was treated as representing goodwill of the ₹ firm which was taxed as long term gain. This mode of arriving at short term and long term capital gain and taxing it accordingly by the Assessing