Transfer of a ‘specific sale contract with a client’ is covered under the expression ‘right to manufacture, produce or process any article or thing’ under Section 55(2)(a) of the Income-tax Act, 1961 and hence taxable as capital gains

Prajna Technologies & Services Pvt. Ltd., VS DCIT (ITAT Hyderabad) IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH ‘A, HYDERABAD ITA No. 1331/Hyd/2010 : Assessment year 2002- 03 M/s. Prajna Technologies & Services Pvt. Ltd., VS DCIT O R D E R Per Akber Basha, AM:- The appeal filed by the assessee is directed against the order of the CIT (A)-V, Hyderabad dated 11-8-2010 and it pertains to the assessment year 2002-03. 2. The grounds raised by the assessee read as under:- “1. The order of the CIT (A) is erroneous both on facts and in law. 2. The CIT (A) erred in ...