The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) comprising Ms. Suchitra Kamble, (Judicial Member) and Shri Waseem Ahmed (Accountant Member) has observed that the consideration received for transfer of marketing/distribution rights for veterinary products as revenue receipt. The assessee, Ambalal Sarabhai Enterprises Ltd., assigned their own trademarks of veterinary products vide Deed of…