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IT: The assessee was not in the business of purchase and sale of patents, so the sale proceed of the assignment agreement could not be treated a revenue receipt. Patent is a legal document that is granted by the Sovereign and gives an inventor exclusive right to make/use/sale an invention for a specified number of years. Section 55(2)(a) talks of right to manufacture, produce or process any article or thing. Therefore, consideration for sale of patent (,the right to manufacture/ produce/ process) would be taxable under the head capital gains and cost has to be taken at Rs. nil