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TMI Blog2014 (2) TMI 1352X X X X Extracts X X X X X X X X Extracts X X X X ..... rs [ 2013 (1) TMI 983 - ITAT MUMBAI] and after considering relevant facts held that expenditure incurred for purchase of master plates is revenue in nature. - Decided in favour of assessee. - ITA no. 7222/Mum./2012 - - - Dated:- 14-2-2014 - SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI AMIT SHUKLA, JUDICIAL MEMBER For the Appellant : Mr. Deepak Tralshwala For the Res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n of feature films. The assessee has debited audio rights expenses of ₹ 2,34,08,629 in the Profit Loss account. These expenses were held to be capital in nature by the Assessing Officer right from the earlier assessment years. The Assessing Officer noted that all these years this issue has been decided by the learned Commissioner (Appeals) and the Tribunal in favour of the assessee, howeve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er year s order of the Tribunal, we find that this issue has been decided in favour of the assessee right upto the assessment year 2008 09. In the latest decision of the Tribunal in ITA no.6925/Mum./2011 for the assessment year 2008 09, order dated 29th January 2013, the Tribunal, after relying upon the earlier year orders has observed and held as under: 4. We have the benefit of the de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent year 1990-91, disallowing the claim of the assessee on the ground that the expenditure is capital in nature. The Tribunal for all the earlier assessment years has been deciding the issue in favour of the assessee. The assessing officer made the addition observing at paragraph 3.3 on page 7 that the revenue has not accepted the decision of the Tribunal and has filed an appeal before H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... following the decision of the Tribunal (supra). Accordingly, the revenue s appeal is dismissed. 5. Thus, respectfully following the judicial precedence of the earlier years, we do not find any merits on the ground raised by the Revenue and the same is dismissed. 6. In the result, Revenue s appeal is dismissed. Order pronounced in the open Court on 14th February 2014 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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