Transfer of trade mark cannot be considered as transfer of goodwill

Transfer of trade mark cannot be considered as transfer of goodwill as they are two separate assets The Bangalore Income Tax Appellate Tribunal (the Tribunal) held that transfer of trade mark is not transfer of goodwill as the goodwill of a business cannot be sold without selling business itself. Thus, the trade mark and goodwill are two different assets. Further, since the capital gains on sale of trade mark came into effect from 1 April 2002 there was no capital gain on sale of trade mark for the year under consideration. Facts of the case The taxpayer company was engaged in the manufacture...