Gujarat HC says Brand Sale Not Taxable Without Ascertainable Cost

The Gujarat High Court held that the ₹50 crore received by Shantaben K. Patel was consideration for the sale of trademark and trade-name rights, not a commuted revenue receipt taxable as income from other sources. Since the cost of acquisition was unascertainable and the applicable statutory provisions did not permit it to be deemed nil, the capital gain could not be brought to tax. The Court also upheld deletion of the related concealment penalty.