Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranassessment Year : 2016-17 M/S. Sasken Technologies Limited, Vs. Jcit, No.139/25, Ring Road, Domlur, Special Range – 6, Bengaluru-560071. Bengaluru. Pan : Aaecs 6424 R Appellant Respondent Appellant By : Shri. Padam Chand Khincha, Ca Respondent By : Shri. Sumer Singh Meena, Cit(Dr)(Itat), Bengaluru. Date Of Hearing : 09.03.2022 Date Of Pronouncement : 16.03.2022 O R D E R Per N.V. Vasudevanthis Is An Appeal By The Assessee Against The Order Dated 27.11.2019 Of Cit(A), Bengaluru -10, Relating To Assessment Year 2016-17. 2. Ground No.1 Raised By The Assessee Is General & Calls For No Specific Adjudication. Grounds Nos.2 & 3 Raised By The Assessee Is With Regard To The Issue Whether The Gain On Sale / Assignment Of Intellectual Property Rights (Ipr) Is Assessable To Tax At All & If So Assessable To Tax Whether It Has To Be Assessed To Tax Under The Head “Income From Business Or Profession” Or “Capital Gain”. Page 2 Of 31
54E, 54EA, 54EB, 54F, 54G and 54H, be chargeable to income-tax under the head "Capital gains", and shall be deemed to be the income of the previous year in which the transfer took place. Income chargeable under the head capital gain accrues to an Assessee the moment, an Assessee effects transfer of a capital Asset. Sec.2