- 1 - rng IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1219 OF 2009 The Commissioner of Income-Tax-3 ... Appellant vs M/s Elpro International Ltd . Respondent .. Mr.P.S.Sahadevan i.b.Mr.Vimal Gupta for Appellant Mr.Sanjiv.M.Shah for Respondent. CORAM: V.C.DAGA AND R.V.MORE,JJ DATED: September 29, 2009 P.C. Heard learned counsel for the revenue. Following questions of law in the appeal are involved: (i) Whether in the facts and circumstances of the case and in law the Hon’ble ITAT was right in confirming the decision of CIT (A) holding that the sale of design, drawings, and intellectual property rights pertaining to assessee’s business of manufacturing and selling x-ray machines/equipments was sale of capital asset and the receipt of Rs. 1,92,00,000/- the sale proceeds thereof, cannot be charged to capital gain tax ? - 2 - (ii) Whether in the facts and circumstances of the case and in law the Hon’ble ITAT was right in confirming the decision of CIT (A) holding that the assessee’s receipt of non-compete fee of Rs.1,87,98,000/- was a capital receipt and was not chargeable to tax since no cost of its acquisition could be determined ? 2. In so far as question no.1 is concerned, the same is covered by the circular by the CBDT and that of the Delhi High Court with which we concur. 3. In so for as question no. 2 is concerned, the issue sought to be raised in this appeal is covered by the judgment of the Apex Court in COMMISSIONER OF INCOME TAX vs. BEST & CO. (P) LTD (1966) 60 ITR 11 (SC). In this view of the matter, as no specific questions of law are involved, Appeal is dismissed. R.V.More, J V.C.Daga, J - 3 -