Trademark Transfer Not Taxable Before 2002 Due to Self-Generated Asset Rule: Gujarat HC

Advertisement Ambalal Sarabhai Enterprises Limited Vs DCIT (Gujarat High Court) The Gujarat High Court examined cross appeals arising from an order of the Income Tax Appellate Tribunal (ITAT) relating to Assessment Year 2001–02. The dispute concerned tax treatment of payments made under a voluntary retirement scheme, and the character of consideration received for transfer of trademarks and marketing rights by the assessee to a joint venture company. The assessee, along with another company, formed a 50:50 joint venture company named Sarabhai Zydus Animal Health Ltd. Under a deed of assig...