THE ACIT, CEN-CIRCLE, KOTTAYAM vs. SRI.JOSE THOMAS, ADOOR
In the result, the appeals of the assesses in ITA no
ITA 238/COCH/2019[2011-12]Status: DisposedITAT Cochin30 Sept 2019AY 2011-12
Bench: S/Shri Chandra Poojari, Am & George George K., Jm
gain as section 55(2) of the I.T. Act does not
include this kind of asset as capital asset. For better understanding, we will
examine the provisions of section 55(2) of the I.T. Act.
S. 55 (2) For the purposes of sections 48 and 49, "cost of acquisition",—
(a) in relation to a capital asset, being goodwill
