Summary
- The High Court has ruled that self-generated trademarks transferred before April 1, 2002, are not taxable as capital gains.
- The court emphasized that the lack of an ascertainable cost of acquisition renders the computation provisions unworkable.
- This decision clarifies the tax implications for businesses dealing with self-generated intellectual property prior to the specified date.
- The ruling could significantly impact how companies account for and report such trademarks in their financial statements.
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