Assessee gets enduring benefit from the rights acquired in films ...

Taxpayer Can Claim Depreciation on Film Rights as Intangible Assets u/s 32, Not Section 37(1.

June 11, 2016

Case Laws Income Tax AT

Assessee gets enduring benefit from the rights acquired in films and serials and they do not expire on the date of first telecast as contemplated by the assessee - The rights are intangible assets within the meaning of Explanation (iii) to Section 32 and do not fall within the purview of Section 37(1). The assessee is entitled to claim depreciation on same - AT

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Assessee gets enduring benefit from the rights acquired in films ...

Taxpayer Can Claim Depreciation on Film Rights as Intangible Assets u/s 32, Not Section 37(1.

June 11, 2016

Case Laws Income Tax AT

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